USDCAD broke below the lower line of the price channel on daily chart, suggesting that the uptrend from 0.9815 had completed at 1.0341 already. Further decline would likely be seen, and next target would be at 1.0000 area. Resistance is at 1.2450, only break above this level could trigger another rise towards 1.0500.
For long term analysis, USDCAD may be forming a cycle top at 1.0341 on weekly chart. Further decline towards 0.9500 could be expected over the next sever weeks.
