USD/CAD Weekly Analysis – Sunday, August 5

USD/CAD’s downside movement from 1.3385 extended to as low as 1.2967. A further decline is still possible in a couple of weeks and the next target would be at bottom support trend line of the rising price channel on the daily chart.

Resistance is at the bearish trend line, only a clear break above the trend line resistance could trigger another rise towards 1.3500.

USDCAD daily chart

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