USDCAD Weekly Analysis – January 15, 2017

USDCAD broke below the bottom of the price channel on daily chart, indicating that the uptrend from 1.2460 had completed at 1.3598 already. Further decline could be seen after a minor consolidation, and next target would be at 1.2500 area. Resistance is at 1.3360 only break above this level could trigger anther rise towards 1.3800.

usdcad chart