USDCAD Weekly Analysis – March 24, 2019

USDCAD is facing 1.3467 resistance. As long as this level holds, the bounce from 1.3068 could be treated as consolidation for the downtrend from 1.3664, another fall towards 1.3000 is still possible after the consolidation. On the upside a break of 1.3467 resistance would confirm that the downside movement had completed at 1.3068 already, then the following upside movement could take the price to 1.4000.

USDCAD daily chart