USDCAD Weekly Analysis – November 22, 2015

USDCAD’s short term uptrend from 1.2831 extended to as high as 1.3370. Further rise to test 1.3456 resistance is possible next week, a break of this level will indicate that the uptrend from 1.1919 has resumed, then next target would be at 1.4000 area. However, as long as 1.3456 resistance holds, one more fall to 1.2500 area is still possible.

usdcad chart