USDCAD Daily Analysis – January 3, 2020

USDCAD stays below a falling trend line on the 4-hour and remains in the downtrend from 1.3327. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.2900 area. Near term resistance is at 1.3020, above this level could bring the price back towards the trend line.

USDCAD 4-hour chart