USDCAD stays in a trading range between 1.0224 and 1.0388. The price action in the range is more likely consolidation of downtrend from 1.0678. Another fall to 1.0150 is still possible later today. Key resistance is at 1.0388, only rise above this level will indicate that a cycle bottom has been formed, and the fall from 1.0678 is complete, then rise towards the upper border of the price channel could be seen.
Join the Discussion