USDCAD Daily Analysis – December 17, 2019

USDCAD extended its downside movement from 1.3327 to as low as 1.3114. Further decline is still possible after a minor consolidation and next target would be at 1.3060 area. Key resistance is at 1.3204, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart