FX.co ★ USD/CAD Noughs and Crosses analysis for November 1, 2011

The USD/CAD is continuing with the slight upside movement from the distribution point 0.990.

The 1.002 level acts as a resistance for the pair at the moment, in case of its break the pair will be targeted at 1.010.

The upside trend line has not been formed yet, therefore the instrument is still considered as bearish.

Alternative option: break of the support at 0.994 will target the pair to 0.984.

Support levels: 0.994

Resistance levels: 1.002