USDCAD Daily Analysis – July 2, 2019

USDCAD broke above the top of the price channel on the 4-hour chart, suggesting that the downside movement from 1.3228 had completed at 1.3059 already. Further rally would likely be seen in the coming days and next target would be at 1.3200 area. Near term support is at 1.3105, only a breakdown below this level could trigger another fall towards 1.3000.

USDCAD 4-hour chart