USDCAD Daily Analysis – May 8, 2020

Being contained by the falling trend line on the 4-hour chart, USDCAD pulled back from 1.4172. Further decline would likely be seen and next target would be at 1.3849 support, followed by 1.3660 area. Near term resistance is at 1.4000, above this level could trigger another rise towards the trend line.

USDCAD 4-hour chart