USDCAD Daily Analysis – July 10, 2017

After consolidation, USDCAD continued its bearish movement from 1.3347 and the fall extended to as low as 1.2859. Key resistance is at 1.3014, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.2700 area. Only a break of 1.3014 resistance could signal completion of the downtrend.

USDCAD 4-hour chart