USDCAD Daily Analysis – July 18, 2014

USDCAD remains in uptrend from 1.0619, the fall from 1.0794 is likely consolidation of the uptrend. Further rise is still possible and next target would be at 1.0850 area. Support is at 1.0700, only break below this level will signal completion of the uptrend, then deeper decline towards 1.0500 could be seen.

usdcad chart