USDCAD Daily Analysis – June 11, 2019

USDCAD’s downside movement from 1.3564 extended to as low as 1.3240. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3200 area. Near term resistance is at 1.3285, above this level could bring the price back towards the trend line.

USDCAD 4-hour chart