FX.co ★ USD/CAD Survey according to the Point and Figure Charting for January 20, 2012

The USD/CAD currency pair continues the rapid descending movement in the 3rd impulse wave.
After the breakdown of the resistance level 1,008, the pair turned to the uprising movement within the correction.
Today the downward movement is expected to resume in order to overcome the resistance level of 1. 007.
In case the purchasers are able to pass the resistance level of 1.017 the third ascending wave will be finished and the 4th corrective wave is to begin.

Strong levels for today:

Daily pivot: 1.0103
Resistance level 1: 1.0136
Resistance level 2: 1.0160
Support level 1: 1.0079