USDCAD Daily Analysis – November 19, 2014

USDCAD’s downward movement from 1.1466 extended to as low as 1.1260. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.1200 area. However, a clear break above the trend line resistance will indicatet that the downtrend had compelted at 1.1260 already, then the following upward movement could bring price to 1.1600 zone.

usdcad chart