No changed in our view, USDCAD is forming a sideways consolidation in a range between 1.1464 and 1.3015. Deeper decline is still possible to retest 1.1464 previous low support and rebound would more likely be seen before breaking below this level.
For long term analysis, USDCAD remains in bullish movement, and the fall from 1.3015 is treated as consolidation to long term up trend. Further rise towards 1.4000 to reach the next cycle top on monthly chart is possible.
