USDCAD Daily Analysis – January 23, 2020

USDCAD extended its upside movement from 1.2951 to as high as 1.3160. Further rise is still possible and next target would be at 1.3200 area. Near term support is at 1.3120, below this level could bring the price back towards the rising trend line on the 4-hour chart.

USDCAD 4-hour chart