USDCAD remains in uptrend from 0.9632, the fall from 1.0019 is treated as consolidation of the uptrend. Support is at the lower line of the price channel on daily chart, as long as the trend line support holds, the uptrend could be expected to resume, and another rise towards 1.1000 is still possible.
For long term analysis, USDCAD had formed a cycle top at 1.0445 on weekly chart. Further decline towards 0.9406 (Jul 26, 2011 low) would likely be seen over the next several months.
