USDCAD Daily Analysis – March 10, 2014

USDCAD is testing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend from 1.1192 could be expected to resume, and one more fall to 1.0900 area is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 1.1192 had completed, then further rise to test 1.1192 resistance could be seen.

usdcad chart