USDCAD is testing 1.0378 previous high resistance, consolidation will more likely be seen before break above this level. Key support is now located at 1.0094, a break of this level will indicate that the up trend from 0.9709 has completed, and deeper decline to retest 0.9709 support could be seen.
For long term analysis, USDCAD is in correction to the long term down trend. Further rise to 1.0750 to reach the next cycle top on weekly chart is now in favor.
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