USD/CAD broke below 1.2200 support, indicating that the uptrend from 1.0619 (Jul 3, 2014 low) had completed at 1.2835 already. Further decline could be expected, and next target would be at 1.1500 area. Resistance is at 1.2450, only break above this level could trigger another rise towards 1.3500.

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk