USDCAD Daily Analysis – January 31, 2017

USDCAD remains in downtrend from 1.3387, the rise from 1.3053 could be treated as consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.2900 area. Resistance is at 1.3230, only break above this level could signal completion of the downtrend.

usdcad chart