USDCAD Daily Analysis – March 21, 2017

USDCAD stays in the descending price channel on 4-hours chart and remains in downtrend from 1.3535. As long as the channel resistance holds, the rise from 1.3276 could be treated as consolidation of the downtrend, and further decline to 1.3200 area is still possible. Key resistance is at 1.3377, only break above this level could signal completion of the downtrend.

USDCAD chart