USDCAD Daily Analysis – March 11, 2015

USDCAD broke above 1.2663 resistance, indicating that the uptrend from 1.1191 (Nov 21, 2014 low) has resumed. Further rise could be expected, and next target would be at 1.3000 area. Support is at 1.2530, only break below this level will indicate that lengthier consolidation for the uptrend from 1.1191 is needed, then the following downward movement could bring price back to 1.2200 zone.

usdcad chart