USDCAD Weekly Analysis – January 5, 2020

USDCAD extended its downside movement from 1.3327 to as low as 1.2951, breaking below 1.3015 support. Further decline would likely be seen after a minor consolidation and next target would be at 1.2800 area. Near term resistance is at 1.3080, above this level could bring the price back towards 1.3300.

USDCAD daily chart