USDCAD Weekly Analysis – July 5, 2014

USDCAD stays below the downward trend line on daily chart, and remains in downtrend from 1.1278. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.0300 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

usdcad chart