USDCAD remains in consolidation of the downtrend from 1.0422 (Dec 14, 2011 high). Lengthier sideways movement in the range between 0.9841 and 1.0050 would likely be seen in a couple of days. Support is at 0.9841, a breakdown below this level could signal resumption of the downtrend, then next target would be at 0.9700-0.9800 area. Only break above 1.0050 could indicate that the fall from 1.0422 had completed.

usdcad