USDCAD Daily Analysis – November 14, 2014

USDCAD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.1466 had completed at 1.1281 already. Further rise to test 1.1466 resistance could be seen, a break above this level will signal resumption of the longer term uptrend from 1.1121, then next target would be at 1.1600 area.

usdcad chart