USDCAD Daily Analysis – October 22, 2014

USDCAD is facing the support of the price channel on 4-hour chart, a clear break below the channel support could signal completion of the uptrend from 1.0886, then deeper decline to 1.0800 area could be seen. On the upside, as long as the channel support holds, the fall from 1.1385 could be treated as consolidation of the uptrend from 1.0886, one more rise to 1.1500 area is still possible.

usdcad chart