USDCAD Daily Analysis – May 16, 2014

No changed in our view, USDCAD remains uptrend from 1.0813, the fall from 1.0926 could be treated as correction of the uptrend. As long as 1.0813 key support holds, the uptrend could be expected to resume, and the target would be at the upper line of the price channel on 4-hour chart. Only break below 1.0813 support could trigger another fall to 1.0700 zone.

usdcad chart