USDCAD Daily Analysis – February 12, 2014

USDCAD remains in downtrend from 1.1224, the rise from 1.0967 could be treated as consolidation of the downtrend. Deeper decline would likely be seen, and next target would be at 1.0800 area. Resistance is at 1.1100, only break above this level could signal completion of the downtrend.

usdcad chart