USDCAD’s downward movement from 1.0422 extends to as low as 0.9841. Further decline is still possible next week, and next target would be at 0.9700 area. Key resistance is at 1.0050, a break above this level will indicate that the fall from 1.0422 has completed, then the following upward movement could bring price back to 1.0400 zone.
For long term analysis, USDCAD is in correction of uptrend from 0.9406, further rise to 1.1500 would likely be seen after consolidation.
