USDCAD Daily Analysis – October 24, 2019

USDCAD broke below 1.3070 support, suggesting that the downtrend from 1.3347 has resumed. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3000 area. Key resistance is at 1.3122, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart