USDCAD Weekly Analysis – February 8, 2014

USDCAD remains in uptrend from 1.0182, the fall from 1.1224 is likely consolidation of the uptrend. Deeper decline would likely be seen, and the target would be at the upward trend line on daily chart. On the upside, as long as the trend line support holds, the uptrend could be expected to resume, and another rise towards 1.1500 is still possible. Only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart