USD/CAD Daily Analysis – Wednesday, July 11

USD/CAD broke above the bearish trend line on the 4-hour chart, suggesting that the downside movement from 1.3385 had completed at 1.3065 already. Further rally is still possible in the coming days and next target would be at 1.3224 resistance. Support is now at 1.3065, only a breakdown below this level could trigger another fall towards 1.2950.

USDCAD 4-hour chart

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