USDCAD Daily Analysis – June 27, 2018

USDCAD stays in a trading range between 1.3259 and 1.3381. As long as 1.3259 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.2856 and one more rise towards 1.3450 is still possible after the consolidation. On the downtrend, a breakdown below 1.3259 support would indicate that the upside movement had completed at 1.3381 already, then the following downside movement could take the price back to 1.3100, followed by 1.3060.

USDCAD 4-hour chart