USDCAD remains in downtrend from 1.0057 and the fall extended to as low as 0.9683 level. Deeper decline is still possible after a minor consolidation, and next target would be at 0.9600 area. Resistance is at the downtrend line on daily chart, as long as the trend line resistance holds, downtrend will continue.
For long term analysis, USDCAD’s long term downtrend has resumed. Further fall towards 0.9000 is expected in next several months.
