USD/CAD Daily Analysis – Friday, Jan. 25

USD/CAD’s upside movement from 1.3179 extended to as high as 1.3374. As long as the price is in the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3400 area. Near term support is at 1.3300, below this level could bring the price back to the bottom of the channel.

USDCAD 4-hour chart

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