USDCAD Weekly Analysis – August 19, 2018

USDCAD failed to break above the falling trend line on the daily chart and remains in the downtrend from 1.3385. Further decline is still possible and a breakdown below 1.2961 support could take the price to 1.2850 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

USDCAD daily chart