USDCAD Daily Analysis – May 5, 2014

USDCAD remains in downtrend from 1.1053, and the fall extended to as low as 1.0935. Resistance is now at 1.1004, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0900 area. Only break above 1.1004 resistance could trigger another rise to 1.1100 zone.

usdcad chart