USDCAD Daily Analysis – July 30, 2018

USDCAD stays in a falling price channel on its 4-hour chart and remains in the downtrend from 1.3289. As long as the price is in the channel, the downtrend could be expected to continue and next target would be at 1.2900 area. Key resistance is at 1.3130, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart