USDCAD Daily Analysis – August 23, 2018

USDCAD’s downside movement from 1.3174 extended to as low as 1.2986. Further decline to test 1.2961 support is possible, a break below this level could trigger further downside movement to 1.2900 area. Near term resistance is at 1.3057, only a break of this level could bring the price back to 1.3100 area.

USDCAD 4-hour chart