USDCAD Daily Analysis – October 22, 2019

USDCAD extended its downside movement from 1.3347 to as low as 1.3070. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3050 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

USDCAD 4-hour chart