USDCAD Analysis – February 27, 2010

USDCAD continues its sideways movement in a range between 1.0206 and 1.0852. Lengthier consolidation in the trading range is still possible in a couple of weeks and one more fall to 1.0250-1.0350 area is expected next week.

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