USDCAD Analysis – June 11, 2011

USDCAD stays above a uptrend line on daily chart, and remains in uptrend from 0.9444. As long as the trend line support holds, uptrend could be expected to continue and further rise to 1.0000 area could be seen in a couple of weeks.

For long term analysis, USDCAD had formed a cycle bottom at 0.9444 on weekly chart. Further rise to 1.0100 area to reach next cycle top is possible.

usdcad daily chart