USDCAD is testing 0.9987 previous low support, a break of this level will indicate lengthier consolidation is underway, and deeper decline to retest 0.9709 could be seen. Key resistance is now located at 1.0326, only break of this level will signal the resumption of the long term up trend.
For long term analysis, USDCAD formed a long term cycle top at 1.0378 on weekly chart. Pullback to 0.9650 area to reach the next long term cycle bottom is still in favor.
