USD/CAD Daily Analysis – Thursday, July 11

USD/CAD failed to break above 1.3144 resistance and stays in a trading range between 1.3036 and 1.3144. Deeper decline to test 1.3036 support would likely be seen, a breakdown below this level could trigger further downside movement towards 1.2950. Only break above 1.3144 resistance could signal completion of the downtrend.

USDCAD 4-hour chart

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