USDCAD Daily Analysis – January 29, 2014

USDCAD broke above 1.1173 resistance, indicating that the uptrend from 1.0588 has resumed. Further rise could be expected, and next target would be at 1.1400 area. Key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart