USDCAD stays in a trading range between 0.9977 and 1.0378. Moving sideways without trend in the range is still possible in a couple of weeks and bounce towards 1.0378 would more likely be seen next week. Support is at 0.9977, only break below this level could trigger another fall to 0.9700-0.9800 area.
For long term analysis, USDCAD may be forming a cycle bottom at 0.9977 level on weekly chart. Key resistance is at 1.0378, a break above this level will confirm the cycle bottom.
