USDCAD continued its downward movement from 1.3347 and the fall extended to as low as 1.2627. Resistance is at 1.2770, as long as this level holds, further decline could be expected and next target would be at 1.2500 area. Only a break of 1.2770 resistance could indicate that correction of the downtrend is underway, then the pair will find resistance at around 1.3000.
