USDCAD Daily Analysis – January 15, 2015

USDCAD continued its upward movement from 1.1560, and the rise extended to as high as 1.2017. Near term support is at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.2100 area. Key support is at 1.1850, only break below this level could signal completion of the uptrend.

usdcad chart