USDCAD Daily Analysis – November 14, 2017

USDCAD broke above the falling trend line on the 4-hour chart, indicating that the short term downtrend from 1.2916 had completed at 1.2666 already. Further rally to test 1.2819 resistance would likely be seen in the coming days. Above this level could take price to next resistance level at 1.2916, followed by 1.3100. Near term support is at 1.2666, a breakdown below this level could trigger another fall towards 1.2433.

USDCAD 4-hour chart