USDCAD Daily Analysis – July 13, 2017

USDCAD continued its bearish movement from 1.3347 and fell sharply to as low as 1.2680. Further decline could be expected after a minor consolidation and next target would be at 1.2550 area. Near term resistance is at 1.2820 and the key resistance is now at 1.2943, only break above these levels could signal completion of the downtrend.

USDCAD 4-hour chart