USDCAD Weekly Analysis – September 11, 2016

USDCAD moved sideways in a price channel on daily chart. As long as 1.2654 key support holds, the price action in the channel could be treated as consolidation of the uptrend from 1.2460, and further rise to 1.3600 area to complete the upward movement is possible after consolidation. Only break below 1.2654 support could trigger another fall towards 1.1500.

usdcad chart