USDCAD Daily Analysis – August 30, 2018

USDCAD remains in the downtrend from 1.3174, the bounce from 1.2887 could be treated as consolidation for the downtrend. Further decline is still possible after the consolidation and next target would be at 1.2800 area. Resistance is at 1.3000, only a breakout of this level could signal completion of the downtrend.

USDCAD 4-hour chart