[m.youssif]

No change in USD/CAD's outlook. With 0.9841 resistance intact, another fall is still in favor. Below 0.9730 will bring retest of 0.9666 low first. Break there will confirm down trend resumption for 61.8% projection of 1.0285 to 0.9666 from 0.9972 at 0.9589. However, break of 0.9841 resistance will in turn suggest that fall from 0.9972 is finished and will argue that rise from 0.9666 is possibly resuming for above 0.9972.

In the bigger picture, while the rebound from 0.9666 was strong, it's still too early to conclude medium term reversal. Whole down trend from 1.3063 (2009 high) could still extend further lower as long as 1.0851 resistance holds. But even in that case, as fall from 1.3063 is still looking corrective and hence, we'd expect strong support between 0.9056/9709 to contain downside and bring another medium term rise.

[m.youssif]

No change in USD/CAD's outlook. With 0.9841 resistance intact, another fall is still in favor. Below 0.9730 will bring retest of 0.9666 low first. Break there will confirm down trend resumption for 61.8% projection of 1.0285 to 0.9666 from 0.9972 at 0.9589. However, break of 0.9841 resistance will in turn suggest that fall from 0.9972 is finished and will argue that rise from 0.9666 is possibly resuming for above 0.9972.

In the bigger picture, while the rebound from 0.9666 was strong, it's still too early to conclude medium term reversal. Whole down trend from 1.3063 (2009 high) could still extend further lower as long as 1.0851 resistance holds. But even in that case, as fall from 1.3063 is still looking corrective and hence, we'd expect strong support between 0.9056/9709 to contain downside and bring another medium term rise.