USDCAD Daily Analysis – March 4, 2020

USDCAD is now in the downtrend from 1.3463, the bounce from 1.3314 is likely consolidation for the downtrend. Further decline could be expected after the consolidation and next target would be at 1.3250 area. Near term resistance is at 1.3395, above this level could trigger another rise towards 1.3500.

USDCAD 4-hour chart