USDCAD Weekly Analysis – July 26, 2020

USDCAD stays in a falling price channel on the daily chart and remains in the downtrend from 1.4667. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.3100 area. Key resistance is at 1.3715, only break above this level could signal completion of the downtrend.

USDCAD daily chart