USDCAD Daily Analysis – February 11, 2015

USDCAD is forming a sideways consolidation in a range between 1.2352 and 1.2797. The sideways movement could be expected to continue in a couple of days. As long as 1.2352 support holds, the uptrend from 1.1191 (Nov 21, 2014 low) could be expected to resume, and one more rise towards 1.3000 is still possible.

usdcad chart