USDCAD Daily Analysis – May 22, 2017

USDCAD remains in bearish movement from 1.3793 and the fall extended to as low as 1.3508. Further decline could be expected and next target would be at around 1.3450. Near term resistance is at the falling trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend will continue.

USDCAD chart