USDCAD Daily Analysis – April 24, 2020

USDCAD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.3854 had completed at 1.4264 already. Further decline would likely be seen and next target would be at 1.3854 support. Near term resistance is at 1.4150, a break of this level could trigger another upside movement towards 1.4400.

USDCAD 4-hour chart