USD/CAD continued its downward movement from 1.2835, and the fall extended to as low as 1.1939. Near term resistance is at the top of the price channel on weekly chart, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.1660- 1.1500 area.

 

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk