USDCAD is moving to the next short term cycle top on 4-hour chart and the next cycle top is nearing. Pullback would more likely be seen before breaking above 1.0933 resistance. Key support is now located at 1.0755, a break below this level will confirm the cycle top, then deeper decline could be seen to re-test 1.0632 previous low support. However, above 1.0933 will indicate that the downtrend from 1.1723 has completed at 1.0632 level already.

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