USDCAD Daily Analysis – November 19, 2018

USDCAD is testing the support of the price channel on the 4-hour chart. A breakdown below the channel support would indicate that the upside movement from 1.2782 had completed at 1.3263 already, then deeper decline to 1.3050 area could be seen. Near term resistance is at 1.3190, a breakout of this level could trigger another upside movement towards 1.3300.

USDCAD 4-hour chart