USDCAD remains in downtrend from 1.0960, and the fall extended to as low as 1.0628. Near term resistance is located at the falling trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.0500 area. On the upside, a clear break above the trend line resistance will indicate that consolidation of the downtrend is underway, then range trading between 1.0620 and 1.0710 could be seen.
