USDCAD Daily Analysis – July 9, 2019

USDCAD moved sideways in a trading range between 1.3036 and 1.3144. As long as 1.3144 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.3432, a breakdown below 1.3036 support could trigger another fall towards 1.2950. Only break above 1.3144 resistance could signal completion of the downtrend.

USDCAD 4-hour chart