USDCAD Daily Analysis – December 20, 2013

After breaking above 1.0707 resistance, USDCAD pulled back from 1.0727, suggesting that lengthier consolidation of the uptrend from 1.0182 (Sep 19 low) is needed. Deeper decline could be expected, and the target would be at 1.0580 area. Resistance is at 1.0727, only break above this level could trigger another rise towards 1.1000.

usdcad daily chart