USDCAD Daily Analysis – October 10, 2019

USDCAD continued its sideways movement in a trading range between 1.3287 and 1.3347. As long as 1.3287 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.3205, further rise to 1.3400 area is still possible after the consolidation. On the downside, a breakdown below 1.3287 support would indicate that the uptrend had completed at 1.3347 already, then deeper decline to 1.3250 area could be seen.

USDCAD 4-hour chart