USDCAD Weekly Analysis – January 25, 2014

USDCAD’s upward movement from 1.0182 extended to as high as 1.1173. Further rise could be expected after a minor consolidation, and next target would be at 1.1500 area. Initial support is at 1.1000, 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