USDCAD’s upward move extended to as high as 1.0300. However, the pair has lost its upward momentum, a breakdown below 1.0100 could signal resumption of downtrend from 1.0656, then another fall towards 0.9406 could be seen.
For long term analysis, USDCAD had formed a cycle top at 1.0656 on weekly chart. Further fall towards 0.9406 previous low could be seen over the next several weeks.
