USDCAD fails to test the previous high resistance at 1.3015, and pulls back from 1.3005 level. Further fall would more likely be seen to 1.2300 zone next week. However, a break above 1.3015 will signal further rally towards 1.3500 zone.
For long term analysis, USDCAD remains in bullish movement, and the fall from 1.3015 is treated as consolidation to long term up trend. Further rise towards 1.4000 to reach the next cycle top on monthly chart is possible.
