USDCAD Weekly Analysis – November 1, 2015

USDCAD’s rise from 1.2831 extended to as high as 1.3279. However, the rise would possibly be correction of the downtrend from 1.3456, another fall to 1.2500 area to complete the downward movement is possible. Near term resistance is at 1.3300, only break above this level will indicate that the uptrend from 1.1919 has resumed, then the following upward movement could bring price to 1.4000 zone.

usdcad chart