USDCAD Daily Analysis – December 12, 2016

USDCAD stays in the downward price channel on 4-hour chart and remains in downtrend from 1.3536. Further decline could be expected and next target would be at 1.3000 area. Resistance is located at the top of the price channel, only a clear break above the channel resistance could signal completion of the downtrend.

usdcad chart