USDCAD Daily Analysis – February 28, 2014

No changed in our view, USDCAD remains in downtrend from 1.1192, the rise from 1.1054 would possibly be correction of the downtrend. Another fall would likely be seen, and next target would be at 1.0980 area. Resistance is at 1.1192, only break above this level will indicate that the longer term uptrend from 1.0182 (Sept 19, 2013 low) has resumed, then next target would be at 1.1500 area.

usdcad chart