USDCAD's bounce from 1.0556 extended to as high as 1.0720 only. The subsequent pullback suggests lengthier consolidation of uptrend from 1.0224 is underway. More sideways movements are expected in a couple of days. As long as 1.0556 support holds, we'd expected uptrend to resume and one more rise towards 1.0800 is still possible. However, a breakdown below 1.0556 key support will indicate that the rise from 1.0224 has completed at 1.0720 level already, then the following downtrend could take price to 1.0450 area.
Sunday, May 19, 2013 As of 3:52 PM EDT
U.S. EDITION
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