USDCAD Daily Analysis – October 17, 2019

USDCAD moved sideways in a trading range between 1.3170 and 1.3239. The sideways movement is likely consolidation for the downtrend from 1.3347, further decline to 1.3100 area is still possible after the consolidation. Key resistance is at 1.3260, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart