USD/CAD Daily Analysis – Wednesday, Jan. 23

USD/CAD broke above 1.3322 resistance, suggesting that lengthier correction for the downtrend from 1.3664 is needed. Further rally could be expected and next target would be at 1.3400 area. Support is located at the bottom of the price channel on the 4-hour chart, only break below the channel support could trigger another fall towards 1.3100.

USDCAD 4-hour chart

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