USDCAD Daily Analysis – July 24, 2020

USDCAD’s downside movement from 1.3715 extended to as low as 1.3350. 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 1.3250 area. Near term resistance is at 1.3480, a break of this level could bring the price back towards the trend line.

USDCAD 4-hour chart