USDCAD Daily Analysis – May 21, 2020

USDCAD formed a sideways consolidation above 1.3849 support. Another fall to test 1.3849 support would likely be seen, a breakdown below could take the price to 1.3700 area. Near term resistance is at 1.3980, above this level could trigger another rise towards the falling trend line on the 4-hour chart.

USDCAD 4-hour chart