USDCAD Weekly Analysis – September 2, 2018

USDCAD remains in the downtrend from 1.3385, the bounce from 1.2887 is likely consolidation of the downtrend. As long as the price is below the bearish trend line on the daily chart, the downside movement could be expected to continue and next target would be at 1.2750 area. Key resistance is at 1.3174, only a break of this level could signal completion of the downtrend.

USDCAD daily chart