USD/CAD Daily Analysis – Thursday, Jan. 31

USD/CAD’s downside movement from 1.3374 extended to as low as 1.3118. Further decline is still possible after a minor consolidation and next target would be at 1.3000 area. Resistance is at the bearish trend line on the 4-hour chart, as long as the trend line resistance holds, the downtrend will continue.

USDCAD 4-hour chart

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