USDCAD Weekly Analysis – November 26, 2017

USDCAD broke below the bullish trend line on the daily chart and is now facing 1.2666 support. A breakdown below this level will confirm that the upside movement from 1.2061 had completed at 1.2916 already, then further decline to next support level at 1.2433 could be seen. Below here could trigger further downside movement towards 1.2061 previous low. Resistance is at 1.2916, only break above this level could bring price back to the uptrend from 1.2061, then next target would be at 1.3200 area.

USDCAD daily chart