USDCAD Daily Analysis – February 3, 2017

USDCAD remains in downtrend from 1.3387, the rise from 1.2968 is likely consolidation of the downtrend. Key resistance is at 1.3168, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.2800 area. Only break above 1.3168 resistance could signal completion of the downtrend.

usdcad chart