USDCAD Daily Analysis – August 28, 2019

USDCAD stays in a falling price channel on the 4-hour chart and remains in the short term downtrend from 1.3345. As long as the price is in the channel, the downside movement could be expected to continue and next target would be at 1.3184 support. On the upside, a break of the channel resistance would indicate that the downside movement had completed at 1.3224 already, then further rise to 1.3400 area is possible.

USDCAD 4-hour chart