USDCAD Daily Analysis – July 9, 2018

USDCAD’s downside movement from 1.3385 extended to as low as 1.3076. Further decline is still possible after a minor consolidation and next target would be at 1.2950 area. Resistance is now at 1.3150, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart