USDCAD Weekly Analysis – November 12, 2017

USDCAD is facing a bullish trend line on its daily chart. A clear break below the trend line support will suggest the upside movement from 1.2061 had completed at 1.2916 already, then deeper decline towards 1.2433 support could be seen. Below here would aim 1.2200. On the upside, as long as the trend line support holds, the uptrend could be expected to resume and a breakout of 1.2916 resistance could trigger further bullish movement towards 1.3200.

USDCAD daily chart