USDCAD pulls back sharply to as low as 1.1900 level. Rebound towards 1.2700 zone would more likely be seen next week. As long as 1.3015 resistance holds, we’d expect correction to the long term up trend is underway, and pullback to 1.1500 zone is still possible.
For long term analysis, USDCAD remains in bullish movement. Further rise towards 1.4000 to reach the next cycle top on monthly chart is possible.
