USDCAD Analysis – July 20, 2013

USDCAD is now in downtrend from 1.0608. Further decline could be expected next week, and the first target would be at 1.0150 area. Key support is at 1.0137, a breakdown below this level could signal completion of the uptrend from 0.9632 (Sep 14, 2012 low).

usdcad daily chart