Nothing changed in our view; USDCAD remains in the downtrend from 1.4667. The price action from 1.2993 is likely a consolidation for the downtrend.
Nothing changed in our view; USDCAD remains in the downtrend from 1.4667. The price action from 1.2993 is likely a consolidation for the downtrend. Resistance is located at the top of the falling price channel on the daily chart.
As long as the channel resistance holds, the downside movement could be expected to resume, and a further decline to the 1.2800 area is possible.
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