USDCAD Analysis – October 20, 2013

USDCAD is facing 1.0270 support, a breakdown below this level will indicate that the downtrend from 1.0568 has resumed, then the following downward movement could bring price to 1.0000 zone. Resistance is now at 1.0419, above this level will suggest that the price remains in uptrend from 0.9632 (Sep 14, 2012 low), and the target would be at 1.1000 area.

usdcad daily chart