USDCAD Daily Analysis – August 15, 2018

USDCAD broke below the rising trend line on the 4-hour chart, suggesting that the upside movement from 1.2961 had completed at 1.3170 already. Further decline is still possible and next target would be at 1.2961 support. Resistance is at 1.3170, only a beak of this level could trigger another rise towards 1.3300.

USDCAD 4-hour chart