USDCAD Daily Analysis – October 1, 2019

USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.3309. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.3150 area. On the upside, a clear break above the trend line resistance would indicate that the downside movement had completed at 1.3213 already, then another rise towards 1.3400 could be seen.

USDCAD 4-hour chart