USDCAD Weekly Analysis – March 9, 2014

USDCAD is forming a sideways consolidation in a range between 1.0910 and 1.1224. As long as 1.0910 support holds, the uptrend from 1.0182 could be expected to resume, and next target would be at 1.1500 area. On the downside, a breakdown below 1.0910 support will signal completion of the uptrend from 1.0182, then the following downward movement could bring price back to 1.0700 area.

usdcad chart