USDCAD Weekly Analysis – October 28, 2018

USDCAD broke above the bearish trend line on the daily chart, suggesting that the downside movement from 1.3385 had completed at 1.2782 already. Further rise is still possible and next target would be at 1.3300 area. Near term support is at 1.2960, only a breakdown below this level could trigger another fall towards 1.2700.

USDCAD daily chart