USDCAD Analysis – February 20, 2010

USDCAD formed a cycle top at 1.0779 level on daily chart. Moving sideways without trend in a range between 1.0206 and 1.0852 is expected in next several weeks. Target for next week would be at 1.0250-1.0350 area.

For long term analysis, USDCAD had formed a cycle bottom at 1.0206 level on weekly chart. Range trading between 1.0206 and 1.0852 would more likely be seen in next several weeks.

usdcad daily chart