USDCAD Daily Analysis – July 14, 2017

USDCAD remains in downtrend from 1.3347, the rise from 1.2680 could be treated as consolidation of the downtrend. Range trading between 1.2680 and 1.2820 would likely be seen in a couple of days. Near term resistance is at 1.2680, as long as this level holds, the downtrend could be expected to resume after the consolidation and further decline to 1.2550 area is still possible.

USDCAD 4-hour chart