USDCAD Daily Analysis – April 29, 2020

USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.4264. As long as the trendline resistance holds, the downside movement could be expected to continue and next target would be at 1.3854 support. On the upside, a breakout of the trend line resistance would indicate that the downtrend is complete, then another rise towards 1.4300 could be seen.

USDCAD 4-hour chart