USDCAD Daily Analysis – December 20, 2019

USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.3327. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.3050 area. Key resistance is now at 1.3184, only break above this level could signal completion of the downtrend.

USDCAD 4-hour chart