[Dan]

Short-Term Outlook: Resistance at 1.0899 Expected to Limit the Topside
Resistance at 1.0899 and 1.0958 is expected to attract short-term selling interest in USD/CAD for a test of initial support at 1.0790. An hourly close below this level would highlight secondary support at 1.0637.

Medium-Term Outlook: Lowering Target to 1.0600 as Downtrend Persists
USD/CAD reached technical target at 1.1050 late last week. The downtrend that is in place indicates that resistance at 1.0963 and 1.1099 should attract selling interest for a move to 1.0746. A daily close below this level would then highlight 1.0546. The current downtrend will remain valid while USD/CAD trades below 1.1410 on a daily closing basis, with 1.0600 serving as new medium-term technical price target.