USDCAD Daily Analysis – June 28, 2018

USDCAD continued its sideways movement in trading range between 1.3259 and 1.3385. As long as 1.3259 support holds, the sideways movement 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 downside, a breakdown below 1.3259 support would indicate that the upside movement had completed at 1.3385 already, then deeper decline to 1.3100 area could be seen.

USDCAD 4-hour chart