USDCAD Daily Analysis – July 10, 2019

USDCAD is facing 1.3144 resistance, as long as this level holds, the price action in the trading range between 1.3036 and 1.3144 could be treated as consolidation for the downtrend from 1.3432, another fall to 1.2950 area is still possible after the consolidation. Only break above 1.3144 resistance could signal completion of the downtrend.

USDCAD 4-hour chart