USDCAD Daily Analysis – July 23, 2014

USDCAD broke below the bottom of the price channel on 4-hour chart. Next support level is at 1.0707, as long as this level holds, the fall from 1.0794 could be treated as consolidation of the uptrend from 1.0619, another rise to 1.0850 area is still possible. Only break below 1.0707 support could signal completion of the uptrend.

usdcad chart