USDCAD Daily Analysis – August 15, 2014

USDCAD is facing 1.0875 support, a breakdown below this level will indicate that the uptrend from 1.0619 had completed at 1.0985 already, then deeper decline to 1.0700 area could be seen. On the upside, as long as 1.0875 support holds, the uptrend could be expected to resume, and another rise to 1.1050 area is still possible.

usdcad chart