USDCAD remains in downtrend from 0.9973, the bounce from 0.9526 is treated as minor consolidation of downtrend. Deeper decline could be seen in a couple of weeks, and next target would be at 0.9400 zone. Resistance is at 0.9670, as long as this level 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.
