In the latter part of 2006, the U.S. dollar/Canadian dollar (USD/CAD) pair staged one of its bigger up moves within the massive downtrend that has dominated this currency pair since the beginning of 2002. After hitting a low of 1.0927 in May, dollar/Canada closed higher every month but August, rallying above 1.1500 by December — it’s highest level in eight months. October, November, and December were, in fact, the first three consecutive months of higher highs, higher lows, and higher closes since Oct. 31, 2001. That’s the big picture. To understand how this currency pair trades from day to day, the following study first breaks down the USD/CAD rate’s daily behavior from Dec. 1, 2005 to Nov. 30, 2006 (a total of 261 trading days), detailing the daily ranges, close-to-close changes, typical lows for days that close up, and typical highs for days that close down.