USDCAD Daily Analysis – January 9, 2015

USDCAD remains in uptrend from 1.1560, the fall from 1.1873 is likely consolidation of the uptrend. Support is at 1.1731, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.2000 area. Only break below 1.1731 support will indicate that the uptrend had completed at 1.1873 already, then deeper decline to 1.1600 area could be seen.

usdcad chart