Being supported by the lower line of the triangle pattern, USDCAD rebounded from 1.0076, suggesting that the fall from 1.0422 has completed. Further rise could be seen over the next several days, and the target is at the upper line of the triangle pattern.
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.
