USDCAD Daily Analysis – April 2, 2014

USDCAD continued its sideways movement in a range between 1.1000 and 1.1077. As long as 1.1077 resistance holds, the downtrend from 1.1278 could be expected to resume, and next target would be at 1.0950 area. However, a break above 1.1077 resistance will signal completion of the downtrend, then the following upward movement could bring price to 1.1500 area.

usdcad chart