USDCAD Daily Analysis – October 21, 2014

USDCAD remains in uptrend from 1.0886, the fall from 1.1385 could be treated as consolidation of the uptrend. Support is located at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and next target would be at 1.1500 area. Only a clear break below the channel support could signal completion of the uptrend.

usdcad chart