USDCAD Daily Analysis – January 12, 2015

USDCAD’s upward movement from 1.1560 extended to as high as 1.1889. Further rise could be expected, and next target would be at 1.2000 area. Support is at 1.1731, only break below this level will indicate that the uptrend is complete, then deeper decline to 1.1600 area could be seen.

usdcad chart