USDCAD Weekly Analysis – January 4, 2015

USDCAD continued its upward movement from 1.0619 (Jul 3, 2014 low), and the rise extended to as high as 1.1785. Further rise could be expected, and next target would be at 1.2500 area. 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