USDCAD Weekly Analysis – June 23, 2019

USDCAD’s downside movement from 1.3564 extended to as low as 1.3150. Further decline is still possible in a couple of weeks and next target would be at 1.3000 area. Resistance is at the falling trend line on the daily chart, only a clear break above the trend line resistance could signal completion of the downtrend.

USDCAD daily chart