USDCAD is facing 0.9979 support, a break below this level could trigger another fall towards 0.9700 area. However, as long as 0.9979 support holds, one more rise towards 1.0600 is still possible.
For long term analysis, USDCAD may be forming a cycle bottom at 0.9979 level on weekly chart. Key resistance is at 1.0378, a break above this level is needed to confirm the cycle bottom.
