USDCAD Daily Analysis – June 12, 2020

USDCAD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.4048 had completed at 1.3314 already. Further rally would likely be seen and next target would be at 1.3850 area. Near term support is at 1.3575, a breakdown below this level could trigger another fall towards 1.3450.

USDCAD 4-hour chart