USDCAD Analysis – August 18, 2013

USDCAD remains in downtrend from 1.0608, the rise from 1.0245 is likely consolidation of the downtrend. Deeper decline to 1.0150 area is still possible after consolidation. Resistance is at 1.0445, only break above this level could trigger another rise towards 1.0600.

usdcad daily chart