USDCAD Daily Analysis – May 4, 2020

USDCAD extended its upside movement from 1.3849 to as high as 1.4151. Further rise would likely be seen and next target would be at 1.4264 resistance. Near term support is at 1.4045, a breakdown below this level could trigger another fall towards 1.3850.

USDCAD 4-hour chart