USDCAD Daily Analysis – February 1, 2019

USDCAD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3374. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.3000 area. Only a breakout of the trend line resistance could signal completion of the downtrend.

USDCAD 4-hour chart