USDCAD Daily Analysis – June 5, 2020

USDCAD extended its downside movement from 1.4048 to as low as 1.3467. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3350 area. Near term resistance is at 1.3570, a break of this level could bring the price back towards the trend line.

USDCAD 4-hour chart