USDCAD Daily Analysis – March 11, 2014

USDCAD broke above the downward trend line on 4-hour chart, suggesting that the downtrend from 1.1192 had completed at 1.0955 already. Further rise to test 1.1192 resistance would likely be seen, a break above this level will signal resumption of the longer term uptrend from 1.0182 (Sept 19, 2013 low), then next target would be at 1.1500 area.

usdcad chart