USDCAD Daily Analysis – May 31, 2018

USDCAD broke below the bullish trend line on its 4-hour chart and dropped sharply to as low as 1.2835, suggesting that the upside movement from 1.2728 had completed at 1.3046 already. Further decline could be expected and next target would be at 1.2750 area.

USDCAD 4-hour chart