After consolidation, USDCAD broke below 1.3164 support and continued its bearish movement from 1.3793 (May 5 high), and the fall extended to as low as 1.3147. Further decline could be expected during the coming days and next target would be at around 1.3050. Near term resistance is at 1.3260 and the key resistance is at 1.3347, only break above these levels could signal completion of the downtrend.
