Being contained by 1.0678 resistance, USDCAD dropped sharply from 1.0676 level, suggesting that a cycle top has been formed on daily chart. Another fall towards 0.9930 previous low would more likely be seen in a couple of weeks.
For long term analysis, USDCAD formed a cycle top at 1.0852 level on weekly chart. Rang trading between 0.9930 and 1.0852 would more likely be seen in next several weeks.
