USDCAD Daily Analysis – March 22, 2017

USDCAD is facing 1.3377 resistance, a break of this level will indicate that the downward movement from 1.3535 had completed at 1.3264 already, then the following upward move could bring price to 1.3600 area. On the downside, as long as the pair is below 1.3377 resistance, the price action in the trading range between 1.3264 and 1.3377 could be treated as consolidation of the downtrend, and deeper decline to 1.3200 area is still possible.

USDCAD chart