USDCAD Daily Analysis – January 2, 2020

USDCAD extended its downside movement from 1.3327 to as low as 1.2951. Further decline could be expected after a minor consolidation and next target would be at 1.2900 area. Near term resistance is at 1.3000, above this level could bring the price back towards the falling trend line on the 4-hour chart.

USDCAD 4-hour chart