USDCAD Analysis – September 10, 2011

USDCAD is facing 1.0009 resistance, a break above this level will indicate that the uptrend from 0.9406 has resumed, then next target would be at 1.0200 area. Support is at 0.9725, only break below this level could trigger another fall towards 0.9406 previous low.

For long term analysis, USDCAD is in consolidation of downtrend from 1.0852. Sideways movement in a range between 0.9406 and 1.0200 would likely be seen.

usdcad daily chart