USDCAD Weekly Analysis – December 8, 2013

USDCAD’s upward movement from 1.0182 extends to as high as 1.0707. Support is now at 1.0550, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.1000 area. On the downside, a breakdown below 1.0550 support will indicate that the uptrend from 1.0182 is complete, then the following downward movement could bring price back to 1.0300 zone.

usdcad daily chart