USDCAD Daily Analysis – October 14, 2014

USDCAD continued its sideways movement in a range between 1.1071 and 1.1269. Key support is at 1.1071, as long as this level holds, the sideways move could be treated as consolidation of the uptrend from 1.0810 (Aug 29 low), another rise towards 1.1500 is possible after consolidation. Only break below 1.1071 support could signal completion of the uptrend.

usdcad chart