USDCAD Daily Analysis – July 22, 2019

USDCAD moved sideways in a trading range between 1.3015 and 1.3144. As long as 1.3144 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.3432, further decline 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