USDCAD Daily Analysis – May 22, 2014

USDCAD broke above 1.0926 resistance, indicating that the uptrend from 1.0813 has resumed. Further rise could be expected, and the target would be at the upper line of the price channel on 4-hour chart. Support is at 1.0850, only break below this level could trigger another fall towards 1.0700 area.

usdcad chart