USDCAD breaks below this rising price channel support and is now in down trend. Further fall below 0.9756 previous low to reach the next cycle bottom on daily chart could still be seen. Near term resistance is at 1.0198, a break of this level will signal the resumption of the up trend.
For long term analysis, USDCAD formed a long term cycle top at 1.0378 on weekly chart. Pullback to test 0.9056 (Nov 2007 low) is expected.
