USDCAD Analysis – October 15, 2011

USDCAD’s fall from 1.0656 extended to as low as 1.0093, suggesting that the uptrend from 0.9406 had completed. Further fall could be seen after consolidation, and next target would be at 0.9900 zone.

For long term analysis, USDCAD has formed a cycle top at 1.0656 on weekly chart. Further fall towards 0.9406 previous low could be seen in next several weeks.

usdcad daily chart
usdcad weekly chart