The USD/CAD has been stopped in its advance at 1.0099, just above parity with the US Dollar. The pair has reached the 61.8% FIBO Projection anchored at the low of 0.9632 (September 12, 2012) to the previous high from November 2012 at 1.0056, and finally back to January 11, 2013's low at 0.9815. There is clear resistance at the parity area with numerous moves reversing at this level, which is clear on a weekly chart. November's high is now acting as support, but with 2 failed attempts to break higher, there is a high probability that this pair will fall soon. If it does, look for support at 1.00193 (Weekly Pivot) and 0.9970-80 (Monthly R1) and the December 2012 highs. The 62 Day EMA is sitting at the Monthly Pivot at 0.9904, which will be the tipping point for further declines if they should happen and the Stochastic is has completed a bearish cross above the key 80 level, adding fuel to the bears strength.
Happy Trading!