USDCAD Analysis – November 16, 2013

USDCAD breaks above the downward trend line on daily chart, suggesting that the downtrend from 1.0608 had competed at 1.0182 already. Further rise could be expected next week, and next target would be at 1.0650 area. Support is at 1.0390, only break below this level could trigger another fall to 1.0300 zone.

usdcad daily chart