USDCAD Weekly Analysis – January 17, 2016

USDCAD continued its upward movement from 1.2831, and the rise extended to as high as 1.4553. Further rise could be expected after a minor consolidation, and next target would be at 1.5000 area. Support is located at the upward trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart