USDCAD Daily Analysis – May 22, 2018

USDCAD stays in a trading range between 1.2728 and 1.2924. As long as 1.2924 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.2997, and a breakdown below 1.2728 support could take the price to next support level at around 1.2500.

USDCAD 4-hour chart