USD/CAD Daily Analysis – Monday, August 10

USD/CAD remains in the downtrend from 1.3715. As long as the price is in the falling price channel on the 4-hour chart, the bounce from 1.3233 could be treated as consolidation for the downtrend, and further decline to 1.3150 area is possible. Key resistance is at 1.3458, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart

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