USDCAD Daily Analysis – March 13, 2015

USDCAD remains in uptrend from 1.2406, the fall from 1.2797 is likely consolidation of the uptrend. Support is at 1.2600, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3000 area. On the other side, a breakdown below 1.2600 support will indicate that lengthier sideways movement in a range between 1.2352 and 1.2797 is underway, then deeper decline to 1.2450 area could be seen.

usdcad chart