USDCAD Daily Analysis – April 13, 2015

USDCAD continued its sideways movement in a range between 1.2352 and 1.2835. The price action in the range is likely consolidation of the long term uptrend from 1.0619 (Jul 3, 2014 low). Another rise to test 1.2835 resistance would likely be seen, a break of this level will signal resumption of the uptrend, then the following upward movement could bring price to 1.3500 area.

usdcad chart