USDCAD Weekly Analysis – July 19, 2020

USDCAD is facing the resistance of the falling price channel on the daily chart. As long as the channel resistance holds, the downside movement from 1.4667 could be expected to continue and next target would be at 1.3000. Key resistance is at 1.3715, a break of this level would indicate that the downside movement had completed at 1.3314 already, then the pair would find resistance at around 1.4000.

USDCAD daily chart