USDCAD Daily Analysis – November 8, 2018

USDCAD continued its sideways movement in a trading range between 1.3048 and 1.3169. The sideways move is likely consolidation for the uptrend from 1.2782. As long as 1.3048 support holds, the upside movement could be expected to resume and a breakout of 1.3169 resistance could take the price to 1.3250 area. Only a breakdown below 1.3048 support could signal completion of the uptrend.

USDCAD 4-hour chart