USDCAD Daily Analysis – November 13, 2014

USDCAD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.1466. Further decline would likely be seen, and next target would be at 1.1250 area. Resistance is at the trend line, only a clear break above the trend line resistance will indicate that the downtrend is complete, then another rise to 1.1600 area could be seen.

usdcad chart