USDCAD stays below a downward trend line on daily chart, and remains in downtrend from 1.0341. Further decline could be expected next week, and next target would be at 1.0000 area. Resistance is at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.
For long term analysis, USDCAD had formed a cycle top at 1.0341 on weekly chart. Further decline towards 0.9500 could be expected over the next sever weeks.
