USDCAD Daily Analysis – September 26, 2018

USDCAD is facing the resistance of the price channel on the 4-hour chart. As long as the channel resistance holds, the bounce from 1.2884 could be treated as consolidation for the downtrend from 1.3226 and another fall towards 1.2800 is still possible after the consolidation. Only a clear break above the channel resistance could signal completion of the downtrend.

USDCAD 4-hour chart