USDCAD Daily Analysis – May 16, 2019

USDCAD continued its sideways movement in a trading range between 1.3376 and 1.3520. The sideways movement is likely consolidation for the uptrend from 1.3274, a break out of 1.3520 resistance could take the price to 1.3600 area. Key support is at 1.3376, a breakdown below this level could bring the price back to 1.3300 zone.