USDCAD remains in downtrend from 1.3387. Further decline would likely be seen after a minor consolidation and next target would be at 1.2900 area. Resistance is at 1.3230, as long as this level holds, the downtrend will continue.
![usdcad chart](http://www.forexcycle.com/archive2017/20170127_USDCAD_1.png)
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