USDCAD Weekly Analysis – March 22, 2015

USDCAD failed to break above 1.2797 resistance, and stayed in the trading range between 1.2351 and 1.2797. Deeper decline to test the support of the upward trend line on daily chart could be seen, as long as the trend line support holds, the uptrend from 1.0619 (Jul 3, 2014 low) could be expected to resume, and another rise towards 1.3500 is still possible. Only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart