USDCAD Daily Analysis – August 14, 2020

USDCAD broke below 1.3233 support and extended its downside movement from 1.3715 to as low as 1.3191. Further decline is still possible in a couple of days and next target would be at 1.3100 area. Near term resistance is at 1.3260, a breakout of this level could bring the price back towards the top of the falling price channel on the 4-hour chart.

USDCAD 4-hour chart