USDCAD Daily Analysis – Monday, August 20

USDCAD broke below the rising trend line on the 4-hour chart, suggesting that the upside movement from 1.2961 had completed at 1.3174 already.

Deeper decline is still possible and next target would be at 1.2961 support.

Resistance is at 1.3174, only a break of this level could trigger another rise towards 1.3250 area.