USDCAD Daily Analysis – June 11, 2020

USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.4048. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.3200 area. Key resistance is at 1.3487, a break of this level would indicate that the downside movement had completed at 1.3314 already, then the following upside movement could take the price to 1.3600 area.

USDCAD 4-hour chart