USD/CAD Daily Analysis – Monday, Jan. 28

USD/CAD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.3179 had completed at 1.3374 already. Deeper decline could be expected after a minor consolidation and next target would be at 1.3100 area. Resistance is at 1.3260, as long as this level holds, the downtrend will continue.

USDCAD 4-hour chart

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