After touching 1.0009 resistance, USDCAD pulled back from 1.0025, suggesting that lengthier consolidation of uptrend from 0.9406 is underway. Deeper decline to test 0.9725 support would likely be seen next week, as long as this level holds, we’d expect uptrend to resume, and one more rise towards 1.0200 is still possible.
For long term analysis, USDCAD is in consolidation of downtrend from 1.0852. Sideways movement in a range between 0.9406 and 1.0200 would likely be seen.
