USDCAD Daily Analysis – July 31, 2018

USDCAD extended its downside movement towards 1.2994. As long as the price is in the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2900 area. Key resistance is at 1.3092, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart