USDCAD is forming a sideways consolidation in a range between 1.0048 and 1.0322, one more fall below 1.0048 would more likely be seen to complete the consolidation. However, a break above 1.0322 will signal resumption of long term up trend.
For long term analysis, USDCAD is forming a long term cycle bottom at 0.9818 level on weekly chart. Key resistance is located at 1.0326, a break of this level will confirm the cycle bottom.
