USDCAD Daily Analysis – September 12, 2019

USDCAD broke above 1.3191 resistance, suggesting that corrective consolidation for the downtrend from 1.3382 is underway. Range trading between 1.3133 and 1.3250 would likely be seen in a couple of days. As long as 1.3250 resistance holds, the downtrend could be expected to resume, and further decline towards 1.3000 is still possible after the consolidation.

USDCAD 4-hour chart