USDCAD Daily Analysis – June 12, 2019

USDCAD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3564. As long as the trend line resistance holds, the bounce from 1.3240 could be treated as consolidation for the downtrend, further decline to 1.3200 is still possible after the consolidation. Key resistance is at 1.3308, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart