USDCAD Daily Analysis – December 12, 2014

USDCAD’s upward movement from 1.1191 extended to as high as 1.1549. Near term 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 1.1600 area. Key support is at 1.1397, only break below this level could signal completion of the uptrend.

usdcad chart