USDCAD Weekly Analysis – January 19, 2020

USDCAD remains in the downtrend from 1.3382, the bounce from 1.2951 is likely consolidation for the downtrend. Further decline is possible and next target would be at 1.2800 area. Near term resistance is at 1.3110, a break of this level could bring the price back to 1.3250 area.

USDCAD daily chart