USDCAD Daily Analysis – May 13, 2020

USDCAD’s bounce from 1.3899 extended to as high as 1.4084. Further rise could be expected and next target would be at the falling trend line on the 4-hour chart. Near term support is at 1.3970, a breakdown below this level could trigger another fall towards 1.3700.

USDCAD 4-hour chart