USDCAD Daily Analysis – February 7, 2014

USDCAD moved sideways above 1.1031 support. A breakdown below this support level will indicate that the uptrend from 1.0588 had completed, then deeper decline to 1.0800 area could be seen. However, as long as 1.1031 support holds, one more rise towards 1.1500 is still possible.

usdcad chart