USDCAD formed a cycle top at 0.9973 level on daily chart. Deeper decline towards 0.9667 previous low could be seen next week, a breakdown below this level will indicate that the long term downtrend from 1.0672 has resumed, then next target would be at 0.9500 area.
For long term analysis, USDCAD’s long term downtrend has resumed. Further fall towards 0.9000 is expected in next several months.
