USDCAD Daily Analysis – July 23, 2018

USDCAD broke below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the upside movement from 1.3063 had completed at 1.3289 already. Further decline to test 1.3063 support is possible in the coming days, a breakdown below this level could take the price to 1.2900 area.

USDCAD 4-hour chart