USDCAD Daily Analysis – May 25, 2020

USDCAD extended its upside movement from 1.3866 to as high as 1.4048. Further rally is still possible and next target would be at the falling trend line on the 4-hour chart. Near term support is at 1.3950, a breakdown below this level could trigger another fall to test 1.3849 support.

USDCAD 4-hour chart