USDCAD: The With USDCAD weak and vulnerable, further decline is likely in the days. This leaves it targeting its psycho level at the 0.9800 level. Further down, support comes in at the 0.9692/31 levels where a breach will call for more declines towards the 0.9500 level. Its daily RSI is bearish and pointing lower supporting this view. On the other hand, the pair needs to convincingly return above its broken rising trendline to put on hold its present downside pressure and convince the market of further upside offensive. This if seen could see the 0.0990 level aimed at with a violation calling for a run at the 1.0083 level. Above here will trigger its medium term uptrend followed by the 1.0125 level. All in all, USDCAD remains vulnerable to the downside short term.
