USDCAD failed to break above 1.2835 resistance, and stayed in the trading range between 1.2351 and 1.2835. Near term support is at 1.2351, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.0619 (Jul 3, 2014 low), further rise towards 1.3500 is still possible after consolidation. Key support is at 1.2200, only break below this level could signal completion of the uptrend.
