USDCAD Daily Analysis – January 28, 2019

USDCAD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.3179 had completed at 1.3374 already. Deeper decline could be expected after a minor consolidation and next target would be at 1.3100 area. Resistance is at 1.3260, as long as this level holds, the downtrend will continue.

USDCAD 4-hour chart