By | January 04 2010 6:09 AM

USD/CAD's rebound from 1.0364 lost moment after hitting 1.0576 and weakens again. Intraday bias remains neutral for the moment. As noted before, with 1.0744 resistance intact, there is no confirmation there recent choppy consolidation from 1.0851 has completed yet. Another fall could still be seen and a break below 1.0364 will target 1.0205 support. Nevertheless, we'd still expect downside to be contained above 1.0205 to conclude the consolidations and bring rise resumption. On the upside, above 1.0576 will suggest that rise from 1.0364 is resuming and flip intraday bias back to the upside for 1.0744 resistance. Break there will suggest that whole rise from 1.0205 has resumed for another high above 1.0851.