USDCAD Daily Analysis – November 23, 2018

USDCAD is facing the channel support once again. A breakdown below the channel support would indicate that the upside movement from 1.2782 had completed at 1.3317 already, then further decline towards 1.2950 area could be seen. On the upside, as long as the channel support holds, the uptrend could be expected to resume and another rise towards 1.3400 is still possible.

USDCAD 4-hour chart