USDCAD is testing the resistance of the downward trend line on daily chart, a clear break above the trend line resistance will indicate that the downtrend from 1.0608 had completed, then further rise to 1.1000 area could be seen. On the downside, as long as the trend line resistance holds, the downtrend could be expected to resume, and one more fall towards 1.0000 is still possible. Support is now at 1.0350, a breakdown below this level could signal resumption of the downtrend.
