USDCAD Daily Analysis – January 28, 2014

USDCAD stays above a upward trend line on 4hour chart, and remains in uptrend from 1.0588, the fall from 1.1173 could be treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and one more rise towards 1.1500 is still possible. Only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart