USDCAD Daily Analysis – December 16, 2014

USDCAD’s upward movement from 1.1191 extended to as high as 1.1673. Further rise is still possible after a minor consolidation, and next target would be at 1.1800 area. Key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart