USDCAD Weekly Analysis – July 5, 2015

USDCAD broke above 1.2563 resistance, indicating that the uptrend from 1.1919 has resumed. Further rise to test 1.2835 resistance could be seen, a break of this level will signal resumption of the long term uptrend from 0.9632 (Sept 14, 2012 low), then next target would be at 1.4000 area. Support is at 1.2400, only break below this level could trigger another fall towards 1.1500.

usdcad chart