USDCAD Daily Analysis – March 20, 2017

USDCAD remains in downtrend from 1.3535, the rise from 1.3276 could be treated as consolidation of the downtrend. Near term resistance is at the top of the price channel on 4-hours chart, and the key resistance is at 1.3377, only break above this level could signal completion of the downtrend.

USDCAD chart