USDCAD Daily Analysis – July 11, 2017

USDCAD remains in downtrend from 1.3347, the rise from 1.2859 is likely consolidation of the downtrend. 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