USDCAD Daily Analysis – January 27, 2014

USDCAD remains in uptrend from 1.0588, the fall from 1.1173 could be treated as consolidation of the uptrend. Key support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to resume, and another rise towards 1.1500 is still possible. Only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart