USDCAD Daily Analysis – May 17, 2019

USDCAD consolidated in a trading range between 1.3376 and 1.3520 over the past two weeks. Another rise to test 1.3520 resistance could be expected, a break of this level could signal resumption of the uptrend from 1.3274, then further rise to 1.3600 area could be seen. Key support is at 1.3376, a breakdown below this level could bring the price back to 1.3300 zone.

USDCAD 4-hour chart