USDCAD Weekly Analysis – March 18, 2017

USDCAD failed to break above 1.3598 resistance and pulled back from 1.3534. Deeper decline would likely be seen in a couple of weeks, and next target would be at 1.3100 area. Resistance is now at 1.3534, only break above this level could bring price back to the long term uptrend from 1.2460 (May 3, 2016 low).

USDCAD chart