USDCAD’s bounce from 0.9891 extended to as high as 1.0523. Further rise towards 1.0656 previous high is still possible next week. Support is now at 1.0350, only break below this level could indicate that the rise is complete.
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.
