USDCAD Daily Analysis – November 6, 2019

USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.3207. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.3080 area. On the upside, a breakout of the trend line resistance would indicate that the downtrend had completed at 1.3114 already, then another rise towards 1.3250 could be seen.

USDCAD 4-hour chart