USDCAD Daily Analysis – November 23, 2017

USDCAD broke below the rising trend line on the 4-hour chart, indicating that the upside movement from 1.2666 had completed at 1.2836 already. Further decline to test 1.2666 support could be expected. A breakdown below this level will confirm that the downtrend from 1.2916 has resumed, then next target would be at 1.2600, followed by 1.2433. Near resistance is at 1.2790, only break above this level could trigger another rise towards 1.2916 previous high.

USDCAD 4-hour chart