[m.youssif]

USD/CAD dips further to as low as 0.9685 so far today and intraday bias remains on the downside for 0.9666 support. Break will confirm down trend resumption for 61.8% projection of 1.0285 to 0.9666 from 0.9972 at 0.9589. On the upside, above 0.9752 minor resistance will turn bias neutral and bring consolidations. But another fall will remain in favor as long as 0.9826 resistance holds.

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]

USD/CAD dips further to as low as 0.9685 so far today and intraday bias remains on the downside for 0.9666 support. Break will confirm down trend resumption for 61.8% projection of 1.0285 to 0.9666 from 0.9972 at 0.9589. On the upside, above 0.9752 minor resistance will turn bias neutral and bring consolidations. But another fall will remain in favor as long as 0.9826 resistance holds.

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.