USDCAD Daily Analysis – January 6, 2020

USDCAD remains in the downtrend from 1.3327. As long as the price is below the falling trend line on the 4-hour chart, the bounce from 1.2951 could be treated as consolidation for the downtrend, and further decline towards 1.2900 is possible after the consolidation.

USDCAD 4-hour chart