USDCAD Daily Analysis – October 17, 2014

USDCAD remains in uptrend from 1.0810 (Aug 29 low), the fall from 1.1385 is likely consolidation of the uptrend. Support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.1500 area. Only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart