USDCAD Daily Analysis – Monday, Nov. 20

USDCAD stays above a rising trend line on the 4-hour chart and remains in the short term uptrend from 1.2666.

As long as the price is above the trend line, the upside movement could be expected to continue and a breakout of 1.2819 resistance could take price towards 1.2916 previous high.

Near-term support is at the trend line, below the trend line support could bring the price back to test 1.2666 support. A breakthrough there would aim 1.2433.

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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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