USDCAD remains in downtrend from 1.0608, the rise from 1.0326 is treated as consolidation of the downtrend. Resistance is at 1.0440, as long as this level holds, the downtrend could be expected to resume, and next target would be at 1.0300 area. On the upside, a break above 1.0440 resistance will suggest that the lengthier correction of the downtrend is underway, then the target would be at 1.0480 – 1.0500 area.
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