USD/CAD Daily Analysis – Friday, August 14

USD/CAD 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

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.