USDCAD Daily Analysis – June 3, 2014

USDCAD failed to break below 1.0813 support and stayed in a trading range between 1.0813 and 1.0941. As long as 1.0941 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.1278 (Mar 20 high), another fall towards 1.0700 is still possible after consolidation.

usdcad chart