USDCAD Daily Analysis – January 31, 2019

USDCAD’s downside movement from 1.3374 extended to as low as 1.3118. Further decline is still possible after a minor consolidation and next target would be at 1.3000 area. Resistance is at the bearish trend line on the 4-hour chart, as long as the trend line resistance holds, the downtrend will continue.

USDCAD 4-hour chart