USDCAD Daily Analysis – November 18, 2014

USDCAD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.1466. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.1200 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend is complete, then further rise to 1.1600 area could be seen.

usdcad chart