USDCAD Daily Analysis – December 10, 2014

USDCAD remains in uptrend from 1.1191, the fall from 1.1500 is likely consolidation of the uptrend. Support is at 1.1365, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.1600 area. On the downside, a breakdown below 1.1365 support will indicate that the uptrend had completed at 1.1500 already, then deeper decline to 1.1200 area could be seen.

usdcad chart