USDCAD Analysis – June 9, 2013

USDCAD breaks below 1.0250 support, suggesting hat the uptrend from 1.0013 had completed at 1.0420 already. Further decline could be expected, and next target would be at 1.0050 area. Resistance is at 1.0300, only break above this level could trigger another rise towards 1.0500.

For long term analysis, USDCAD remain in uptrend from 0.9632, further rise to 1.0500 area could be seen over the next several weeks.

usdcad daily chart