USDCAD’s downward movement from 1.0960 extended to as low as 1.0841. Further decline to test 1.0813 support could be expected, a breakdown below this level will signal resumption of the longer term downtrend from 1.1278 (Mar 20 high), then next target would be at 1.0700 area. Near term resistance is at 1.0880, only break above this level will indicate that lengthier sideways movement in a range between 1.0813 and 1.0960 is underway, then further rise to 1.0930 area could be seen.
