USDCAD Daily Analysis – May 1, 2019

USDCAD broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.3274 has completed at 1.3520 already. Further decline could be expected after a minor consolidation and next target would be at 1.3300 area. Resistance is at 1.3430, as long as this level holds, the downtrend will continue.

USDCAD 4-hour chart