USDCAD Daily Analysis – May 21, 2014

USDCAD is facing 1.0926 resistance, a break above this level will signal resumption of the uptrend from 1.0813, then further rise towards the upper line of the price channel on 4-hour chart could be seen. Support levels are at 1.0850 and 1.0813, only break below these levels will indicate that the downtrend from 1.1053 has resumed, then the following downward movement could bring price to 1.0700 area.

usdcad chart