USD/CAD Daily Analysis – Thursday, May 16

USD/CAD continued its sideways movement in a trading range between 1.3376 and 1.3520. The sideways movement is likely consolidation for the uptrend from 1.3274, a break out of 1.3520 resistance could take the price to 1.3600 area. Key support is at 1.3376, a breakdown below this level could bring the price back to 1.3300 zone.

USDCAD 4-hour chart

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