USDCAD Daily Analysis – June 21, 2017

USDCAD continued its sideways movement in a trading range between 1.3164 and 1.3308. Near term resistance is at 1.3308, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.3050 area. The key resistance is at 1.3350, only a break above this level could signal completion of the downtrend.

USDCAD 4-hour chart