USDCAD Analysis – April 27, 2013

USDCAD remains in downtrend from 1.0341, the rise from 1.0083 is likely correction of the downtrend. Further decline could be expected next week, and next target would be at 1.0000. Key resistance is at 1.0293, only break above this level could trigger another rise towards 1.0500.

For long term analysis, USDCAD is now in downtrend from 1.0341. Further decline towards 0.9500 could be expected over the next sever weeks.

usdcad daily chart