Being contained by 0.9930 support, USDCAD may be forming a double bottom pattern at 0.9979 level. Bounce towards 1.0378 key resistance would more likely be seen next week, a break above this level could bring price to 1.0600 area. Key support is at 0.9930, only break below this level could trigger another fall to 0.9500 zone.
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.
