USDCAD Weekly Analysis – April 10, 2016

USDCAD stays in a downward price channel on daily chart, and remains in downtrend from 1.4689. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2500 area. Key resistance is at 1.3296, only break above this level will indicate that the downtrend had completed at 1.2857 already, then the following upward movement could bring price to 1.4300 area.

usdcad chart