USDCAD Daily Analysis – Friday, Jan. 4

USDCAD broke below the bottom of the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.3253 had completed at 1.3664 already.

Further decline could be expected and next target would be at 1.3350 area. Resistance is at 1.3530, only break above this level could trigger another rise towards 1.3700.

USDCAD 4-hour chart

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