USDCAD Daily Analysis – December 23, 2014

USDCAD moved sideways in a narrow range between 1.1560 and 1.1673. The price action in the range is likely consolidation of the uptrend from 1.1191. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.1800 area. Key support is at 1.1560, only break below this level could signal completion of the uptrend.

usdcad chart