USDCAD Daily Analysis – August 18, 2014

USDCAD broke below 1.0875 support, indicating that the uptrend from 1.0619 had completed at 1.0985 already. Deeper decline is still possible over the next several days, and the target would be at 1.0800 area. Resistance levels are at 1.0940 and 1.0985, only break above these levels could trigger another rise towards 1.1200.

usdcad chart