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USDCAD moved sideways in a range between 0.9930 and 1.0215. The price action in the range is treated as consolidation of longer term downtrend from 1.0779 (Feb 5 high). As long as 1.0302 key resistance holds, we’d expect downtrend to resume, and another fall to 0.9800 is possible after consolidation. However, a break of 1.0302 will indicate that the fall from 1.0779 has completed at 0.9930 already, then the following uptrend could take price to 1.0500 area.
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