USDCAD stays in a trading range between 0.9841 and 1.0050. As long as 1.0050 key resistance holds, the price action in the range is treated as consolidation of the downtrend from 1.0523, and one more fall to 0.9600-0.9700 area could be expected after consolidation. On the upside, a break above 1.0050 will indicate that the fall from 1.0523 has completed at 0.9841 already, 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, another rise to 1.1500 would likely be seen after correction.
