USDCAD Daily Analysis – July 24, 2018

USDCAD is now in the downtrend from 1.3289, the bounce from 1.3114 is likely consolidation for the downtrend. Further decline is possible after the consolidation and next target would be at 1.2900 area. Resistance is at 1.3220, only a break of this level could trigger another rise towards 1.3300.

USDCAD 4-hour chart