USDCAD Weekly Analysis – April 3, 2016

USDCAD’s downward movement from 1.4689 extended to as low as 1.2857. Resistance is at 1.3296, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.2500 area. On the upside, a break of 1.3296 resistance will signal completion of the downtrend, then the following upward movement could bring price to 1.4300 area.

usdcad chart