FX.co ★ USD/CAD Noughs and Crosses analysis for December 9, 2011

After breaking the support level 1.008 the pair started to advance to the main bearish resistance line at 1.032.

At the moment the downside movement is expected to resume to the support level 1.006.

The main trend remains downside.

In case the resistance 1.032 is broken the trend will switch to the upside, however it is recommended to sell the pair due to the likely correction.

It is recommended to sell the pair as soon as it approaches the resistance level 1.032.

Support levels: 1.006

Resistance levels: 1.032