USDCAD Weekly Analysis – October 29, 2017

USDCAD broke above the key resistance at 1.2778, confirming that the downside movement from 1.3793 had completed at 1.2061 already. Further rise could be expected after a minor consolidation and next target would be at 1.3200 area. Support is at the bullish trend line on the daily chart, only a clear break below the trend line support could signal completion of the uptrend.

USDCAD daily chart