USDCAD Weekly Analysis – January 28, 2018

After consolidation, USDCAD continued its downside movement from 1.2920, and the fall extended to as low as 1.2282. The key resistance is at 1.2590. As long as this level holds, further downside movement could be seen and next target would be at 1.2061 support. Only a breakout of 1.2590 resistance could signal completion of the downtrend.

USDCAD daily chart