USDCAD Weekly Analysis – February 10, 2019

USDCAD remains in the downtrend from 1.3664, the bounce from 1.3068 is likely consolidation for the downtrend. As long as 1.3375 resistance holds, the downside movement could be expected to resume, and next target would be at 1.2900 area. Only a break of 1.3375 resistance could signal completion of the downtrend.

USDCAD daily chart