USDCAD Analysis: 6 Hour Timeframe Chart Patterns

Price closing below ~1.30762 implies continuation of current downtrend in the USDCAD

The 1.30762 price level provides level of support that is crucial to future development of price action in the USDCAD. A close below provides a next potential target at the 1.28085 price level. A retracement of the current downtrend is therefore anticipated if there is lack of follow through to the downside.