USDCAD Daily Analysis – July 30, 2020

USDCAD remains in the downtrend from 1.3715. 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 1.3200 area. Near term resistance is at 1.3444, a breakout of this level could bring the price back towards the trend line.

USDCAD 4-hour chart