USDCAD Daily Analysis – January 7, 2019

USDCAD’s downside movement from 1.3664 extended to as low as 1.3365. Further decline is still possible after a minor consolidation and next target would be at 1.3300 area. Resistance is at 1.3430, above this level could bring the price back to 1.3500 area.

USDCAD 4-hour chart