USDCAD Daily Analysis – April 4, 2017

USDCAD moved sideways in a trading range between 1.3264 and 1.3414. The pair is now testing 1.3414 resistance, a break of this level will confirm that the downward movement from 1.3535 had completed at 1.3264 already, then the following upward movement could bring price to 1.3500 zone. Support is at 1.3264, a breakdown below this level will signal resumption of the downtrend from 1.3535, then next target would be at 1.3100 area.

USDCAD chart