USDCAD Analysis – August 3, 2013

USDCAD failed to break below 1.0137 support, and rebounded from 1.0245, suggesting that the fall from 1.0608 had completed. Further rise would likely be seen over the next several weeks, and next target would be at 1.0550 area. Support is now at 1.0245, only break below this level could trigger another fall towards 1.0000.

usdcad daily chart