USDCAD Daily Analysis – February 25, 2014

USDCAD failed to break above 1.1224 resistance, and pulled back from 1.1192, suggesting that sideways movement in a range between 1.0910 and 1.1224 is underway. However, another rise to re-test 1.1224 resistance is still possible, a break above this level will signal resumption of the uptrend from 1.0182 (Sept 19, 2013 low), then next target would be at 1.1500 area.

usdcad chart