USDCAD Daily Analysis – August 5, 2019

USDCAD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.3015. As long as the channel support holds, the pullback from 1.3265 could be treated as consolidation for the uptrend, further rise to 1.3300 area is still possible after the consolidation. Near term support is at 1.3180, below this level could bring the price back towards the bottom of the channel.

USDCAD 4-hour chart