USDCAD remains in downtrend from 1.0672 and the price action from 0.9836 is treated as consolidation of downtrend. Support is at 0.9831, a breakdown below this level will indicate that the downtrend has resumed, then deeper decline could be seen to 0.9700 area.
For long term analysis, USDCAD’s long term downtrend has resumed. Further fall towards 0.9000 is expected in next several months.
