Analysis: Usd/cad Daily Outlook
38.2% retracement from 1.0439 to 0.9634 at 0.9951 is a key resistance level for USD/CAD, which has been trying to break 0.9951 for 2 days but hasn't succeeded yet.
If it breaks this resistance level and sustains this momentum, USD/CAD may gather another rally toward 1.0000.
Breaking this level would lead to another resistance from 1.0129 which is 61.8% retracement from 1.0439 to 0.9634.
Below our current price it's the support level Oct. high 0.9884. Breaking this level would bring USD/CAD to another decline toward Oct. low 0.9729.
The next support is this year's lowest price 0.9634.
S1: 0.9884 Oct. high
S2: 0.9729 Oct. low
S3: 0.9634 2012 low
R1:0.9951 38.2% retracement from 1.0439 to 0.9634
R3: 1.0129 61.8% retracement from 1.0439 to 0.9634
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