USDCAD Weekly Analysis – May 31, 2014

USDCAD is facing 1.0813 support, a breakdown below this level will signal resumption of the downtrend from 1.1278, then next target would be at 1.0650 area. Resistance levels are at 1.0945 and 1.1053, only break above these levels will indicate that the downtrend had completed at 1.0813 already, then the following upward movement could bring price to 1.1500 zone.

usdcad chart