USDCAD Analysis – June 1, 2013

USDCAD continues its upward movement from 1.0013, and the rise extends to as high as 1.0420. Further rise is still possible next week, and next target would be at 1.0500 area. Support is at 1.0250, only break below this level could signal completion of the uptrend.

For long term analysis, USDCAD remain in uptrend from 0.9632, further rise to 1.0500 area could be seen over the next several weeks.

usdcad daily chart