USDCAD Weekly Analysis – January 31, 2015

USDCAD’s upward movement from 1.0619 (Jul 3, 2014 low) extended to as high as 1.2797. Further rise could be expected after a minor consolidation, and next target would be at 1.3500 area. Near term support is at 1.2450, and the key support is located at the upward trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart