USDCAD Daily Analysis – January 13, 2020

USDCAD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.2951 had completed at 1.3104 already. Further decline would likely be seen in the coming days and next target would be at 1.2980 area. Resistance is at 1.3104, only break above this level could trigger another rise towards 1.3150.

USDCAD 4-hour chart