USDCAD Daily Analysis – July 3, 2017

USDCAD remains in downtrend from 1.3347 and the fall extended to as low as 1.2946. Near term resistance is at the top trend line of the price channel on its 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue and next target would be at 1.2800 area.

USDCAD 4-hour chart