USDCAD Daily Analysis – April 1, 2014

USDCAD moved sideways in a trading range between 1.1000 and 1.1077. Resistance is now at 1.1077, as long as this level holds, the downtrend from 1.1278 could be expected to resume, and next target would be at 1.0950 area. On the upside, a break above 1.1077 resistance will indicate that the downtrend from 1.1278 had completed at 1.1000 already, then the following upward movement could bring price to 1.1500 area.

usdcad chart