USDCAD Weekly Analysis – November 6, 2016

USDCAD’s upward movement from 1.2460 extended to as high as 1.3465. Key support is at 1.3000, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3700 area. On the downside, a breakdown below 1.3000 support will indicate that the uptrend is complete, then the downward movement could bring price back to 1.1500 zone.

usdcad chart