USDCAD Weekly Analysis – January 5, 2019

USDCAD is facing the support of the bullish trend line on the daily chart, a breakdown below the trend line support would indicate that the upside movement from 1.2782 had completed at 1.3664 already, then deeper decline towards 1.3000 could be seen. On the upside, as long as the trend line support holds, the fall from 1.3664 would possibly be consolidation for the uptrend from 1.2782, another rise towards 1.4000 is still possible after the consolidation.

USDCAD daily chart