USDCAD Daily Analysis – Wednesday, August 5

USDCAD broke below 1.3330 support and extended its downside movement from 1.3715 to as low as 1.3282.

Further decline could be expected in the coming days and next target would be at 1.3200 aera. Near term resistance is at 1.3370, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDCAD 4-hour chart

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