USDCAD Daily Analysis – December 17, 2013

USDCAD is facing 1.0561 support, a breakdown below this level will indicate that lengthier consolidation of the uptrend from 1.0182 (Sep 19 low) is underway, then deeper decline to 1.0500 area could be seen. On the upside, as long as 1.0561 support holds, the uptrend could be expected to resume, another another rise towards 1.1000 is still possible.

usdcad daily chart