USDCAD stays in a trading range between 0.9841 and 1.0050. As long as 1.0050 key resistance holds, the price action in the range is treated as consolidation of the downtrend from 1.0422 (Dec 14, 2011 high). Another fall to test 0.9841 would likely be seen, a breakdown below this level could signal resumption of the downtrend. However, a break above 1.0050 will indicate that the fall from 1.0422 had completed at 0.9841 already, then the following upward movement could bring price back to 1.0400 zone.
