After breaking below 1.0590 previous low, USDCAD drops sharply to as low as 1.0410. Further fall is still possible in a couple of weeks, and target of next week would be at 1.0200 zone. Resistance level is now located at 1.0560 followed by 1.0650, as long as these levels hold, downtrend will continue.
For long term analysis, USDCAD is in long term downtrend from 1.3063. Deeper decline towards 0.9500 is expected in next several weeks.
