USDCAD Daily Analysis – October 21, 2019

USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.3347. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.3100 area. On the upside, a break of the trend line resistance would indicate that consolidation for the downtrend is underway, then the following upside move could bring the price back towards 1.3239 resistance.

USDCAD 4-hour chart