USDCAD Daily Analysis – November 3, 2014

USDCAD broke above 1.1265 resistance, indicating that the downtrend from 1.1385 had completed at 1.1121 already. The pair is now in uptrend. Further rise to test 1.1385 resistance could be expected, a break above this level will signal resumption of the longer term uptrend from 1.0810 (Aug 29 low), then next target would be at 1.1500 area.

usdcad chart