USDCAD Weekly Analysis – October 11, 2015

USDCAD broke below 1.3011 support, indicating that consolidation for the long term uptrend from 0.9406 (Jul 26, 2011 low) is underway. Further decline could be expected after correction, and the target would be at 1.2500 area. Resistance levels are at 1.3200 and 1.3456, only break above these levels could trigger another rise to 1.4000 zone.

usdcad chart