FX.co ★ USD/CAD Noughs and Crosses analysis for December 5, 2011

Reminder: earlier the main trendline was passed at 1.008 despite the fact that the pair carried on advancing, thus confusing many traders.

At the moment the price is back to 1.008 to finish the incomplete downside movement.

The pair is expected to decline to 0.990 as this is the only logical target at the moment.

It is recommended to open a sell position after passing the support level at 1.008.

Support levels: 1.008

Resistance levels: 1.022