USDCAD Daily Analysis – June 20, 2017

USDCAD stays in the trading range between 1.3164 and 1.3308. As long as 1.3308 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.3537 and further fall to 1.3050 area is still possible after the consolidation. The key resistance is at 1.3350, only a break above this level could signal completion of the downtrend.

USDCAD 4-hour chart