USDCAD Daily Analysis – November 1, 2017

USDCAD failed in its attempt to break below the bullish trend line on the 4-hour chart and is now facing 1.2916 resistance. A breakout of this level could signal resumption of the uptrend from 1.2450, then next target would be at 1.3100 area. Key support is at 1.2780, only break below this level could indicate that lengthier consolidation for the uptrend from 1.2061 (Sep 8 low) is underway, then the pair would find next support at around 1.2600.

USDCAD 4-hour chart