USDCAD Daily Analysis – January 13, 2017

USDCAD continued its downward movement from 1.3598, and the fall extended to as low as 1.3029. Near term resistance is now at 1.3190, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.2900 area. Key resistance is at 1.3293, only break above this level could signal completion of the downtrend.

usdcad chart