USDCAD Weekly Analysis – January 18, 2014

USDCAD continued its upward movement from 1.0182 and the rise extended to as high as 1.0991. Further rise could be expected after a minor consolidation, and next target would be at1.1200 area. Initial support is at 1.0840, and the key support is located at the upward trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart