The USDCAD has broken below the 50 fib from the May lows at 1.0123 but is finding support at the monthly low at 1.01.  The Canadian government suggested today that they may be ready to begin tightening interest rates. If they follow through with this action we could see a drift lower towards .99 or .98 area in the pair over the next few months.  But in the short-term 1.01 is support followed by the .618 fib at 1.0047.  Resistance is at past support at 1.0123.

Sup            1.01               1.0050

Res            1.0123           1.02