USDCAD Daily Analysis – January 23, 2015

USDCAD’s upward movement from 1.1560 extended to as high as 1.2419. Further rise could be expected, and next target would be at 1.2500 area. Near term support is at 1.2250, and the key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart