USDCAD Daily Analysis – August 8, 2019

USDCAD’s upside movement from 1.3015 extended to as high as 1.3344. Further rise is still possible after a minor consolidation and next target would be at 1.3400 area. Near term support is at 1.3280, a breakdown below this level could bring the price back towards the rising trend line on the 4-hour chart.

USDCAD 4-hour chart