USDCAD’s rise from 1.0182 extends to as high as 1.0460. Resistance located at the downward trend line on daily chart, as long as the trend line resistance holds, the rise could be treated at consolidation of the downtrend from 1.0608, one more fall towards 1.0000 is still possible. On the upside, a clear break above the trend line resistance could signal resumption of the longer term uptrend from 0.9632 (Sep 14, 2012 low), then the target would be at 1.1000 area.
