USDCAD Daily Analysis – December 22, 2014

USDCAD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.1191. As long as the trend line support holds, the fall from 1.1673 could be treated as consolidation of the uptrend. Further rise could be expected after consolidation, and next target would be at 1.1800 area. Only a clear break below the trend line support could signal completion of the uptrend.

usdcad chart