USDCAD remains in downtrend from 1.1723 and the rise from 1.0206 is more likely consolidation of downtrend. Range trading between 1.0206 and 1.0700 is expected. Another fall is still possible after consolidation and a break below 1.0206 will indicate that the downtrend has resumed, then deeper decline could be seen to 1.0000 level.
For long term analysis, USDCAD is in long term downtrend from 1.3063. Deeper decline towards 0.9500 is expected in next several weeks.
