USDCAD Daily Analysis – Wednesday, Nov. 7

USDCAD moved sideways in a trading range between 1.3048 and 1.3169.

As long as 1.3048 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.2782 and further rise to 1.3250 area is still possible.

Key support is now at 1.3048, only a breakdown below this level could signal completion of the uptrend.

USDCAD 4-hour chart

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