USDCAD Daily Analysis – January 19, 2017

USDCAD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.3598 had completed at 1.3018 already. Further rise could be expected over the next several days, and next target would be at 1.3500 area. Support is at 1.3135, only break below this level could trigger another fall towards 1.2800.

usdcad chart