USDCAD Weekly Analysis – January 10, 2015

USDCAD stays above the upward trend line on daily chart, and remains in uptrend from 1.0619 (Jul 3, 2014 low), and the rise extended to as high as 1.1889. Further rise could be expected after a minor consolidation, and next target would be at 1.2500 area. Near term support is at 1.1700, and the key support is at the trend line, only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart