USDCAD Daily Analysis – August 14, 2014

USDCAD remains in uptrend from 1.0619, the fall from 1.0985 is likely consolidation of the uptrend. Key support is at 1.0875, as long as this level holds, the uptrend could be expected to resume, and another rise to 1.1050 area is still possible. On the downside, a break down below 1.0875 support will signal completion of the uptrend, then deeper decline to 1.0700 area could be seen.

usdcad chart