USDCAD Daily Analysis – August 30, 2019

USDCAD is testing the resistance of the falling price channel on the 4-hour chart. As long as the channel resistance holds, the downside movement from 1.3345 could be expected to continue and next target would be at 1.3180 area. On the upside, a clear break above the channel resistance would indicate that the upside movement from 1.3015 has resumed, then next target would be at 1.3400 area.

USDCAD 4-hour chart