USDCAD Daily Analysis – April 5, 2019

USDCAD is facing 1.3373 resistance. As long as this level holds, the price action in the trading range between 1.3295 and 1.3373 could be treated as consolidation for the downtrend from 1.3450, further decline to 1.3250 area is still possible after the consolidation. On the upside, a breakout of 1.3373 resistance would indicate that the downside movement had completed at 1.3295 already, then another rise to 1.3500 area could be seen.

USDCAD 4-hour chart