USDCAD Daily Analysis – July 27, 2020

USDCAD extended its downside movement from 1.3715 to as low as 1.3350. Deeper decline to test 1.3314 support could be expected, a breakdown below this level could trigger further downside movement towards 1.3200. Near term resistance is at 1.3480, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDCAD 4-hour chart