USDCAD Daily Analysis – May 22, 2020

USDCAD failed to break below 1.3849 support and rebounded from 1.3866, breaking above 1.3980 resistance. Further rally would likely be seen and next target would be at the falling trend line on the 4-hour chart. Support level is at 1.3849, a breakdown below this level could take the price to 1.3700 area.

USDCAD 4-hour chart