USDCAD Daily Analysis – May 8, 2019

USDCAD continued its sideways movement in a trading range between 1.3376 and 1.3520. As long as 1.3376 key support holds, the sideways movement could be treated as consolidation for the uptrend from 1.3274, a break of 1.3520 resistance could trigger another rise towards 1.3600. Only a breakdown below 1.3376 support could signal completion of the uptrend.

USDCAD 4-hour chart