USDCAD Daily Analysis – August 29, 2014

USDCAD remains in downtrend from 1.0997, the rise from 1.0828 is likely consolidation of the downtrend. Resistance is at 1.0900, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0750 area. Only break above 1.0900 resistance could trigger another rise towards 1.1100.

usdcad chart