USDCAD remains in downtrend and the rebound from 1.0206 is treated as consolidation of downtrend. Range trading between 1.0206 and 1.0500 is expected. Another fall towards 1.0000 is still possible after consolidation and a breakdown below 1.0206 could confirm resumption of downtrend.
For long term analysis, USDCAD is in long term downtrend from 1.3063. Deeper decline towards 0.9500 is expected in next several weeks.
