USDCAD Daily Analysis – August 2, 2018

USDCAD stays below a falling trend line on its 4-hour chart and remains in the downtrend from 1.3289. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.2900 area. Key resistance is at 1.3096, only a break of this level could signal completion of the downtrend.

USDCAD 4-hour chart