USDCAD Weekly Analysis – January 14, 2018

USDCAD’s fall from 1.2920 extended to as low as 1.2355. Further decline is still possible after consolidation and next target would be at 1.2061 previous low support. Near term support is at 1.2355, a breakdown below this level could signal resumption of the downtrend. Near term resistance is at 1.2680, only break above this level could trigger another rise towards 1.2920.

USDCAD daily chart