USDCAD Daily Analysis – April 27, 2020

USDCAD’s fall from 1.4264 extended to as low as 1.3999. As long as 1.4140 resistance holds, the downside movement could be expected to continue and next target would be at 1.3900 area. On the upside, a breakout of 1.4140 resistance would indicate that the downtrend is complete, then another rise towards 1.4500 could be seen.

USDCAD 4-hour chart