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| USDCAD Analysis - Jun 28, 2008 |
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| Written by ForexCycle.com | |
| Saturday, 28 June 2008 | |
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USDCAD formed a cycle top at 1.0322 level on daily chart. Sideways consolidation between 1.0000 and 1.0322 would could be seen in a couple of weeks. However, a break above 1.0322 level will indicate that long term up trend has resumed and further rise to 1.1000 area is expected to follow. For long term analysis, USDCAD is forming a long term cycle bottom at 0.9818 level on weekly chart. Key resistance is located at 1.0326, a break of this level will confirm the cycle bottom.
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