The Canadian dollar peaked on 6/1/09 at 92.75 (basis September contract). On 6/5/09 we received a longer term sell signal. As the C$ peaked, we saw commodities peaking out soon after in early to mid June.
Currently the C$ appears to be basing, but it could be a short term correction before making the next move downward.
If the market breaks below 85.51, then the next support level would be 84.31.
If the market holds the current level, the initial resistance level is 86.23 to 86.50