USD/CAD Daily Analysis – Thursday, August 13

USD/CAD extended its downside movement from 1.3715 to as low as 1.3227. As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3150 area. Key resistance is at 1.3397, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart

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