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

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.