USDCAD Daily Analysis – Friday, Nov. 17

USDCAD is facing the support of the rising trend line on the 4-hour chart. A clear break below the trend line support could take price to next support level at 1.2666. Below this level could trigger further downside movement towards 1.2570, followed by 1.2433.

On the upside, as long as the trend line support holds, the short-term uptrend could be expected to continue and next target would be at 1.2819. Above here would aim 1.2916 previous high.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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