USDCAD Daily Analysis – April 6, 2020

USDCAD continue its sideways movement in a trading range between 1.3920 and 1.4348. The price action in the range is likely consolidation for the downtrend from 1.4667, and further decline to 1.3800 area is still possible after the consolidation. Only break above 1.4348 resistance could signal completion of the downtrend.

USDCAD 4-hour chart