Find more articles and bullets on these widgets:
The current bear cycle in USDCAD remains in play and the pair continues to weaken. This week’s bearish extension has resulted in a break of the 50-day EMA and 1.3562, the 50% retracement for the Feb 2 - Mar 10 rally. The move lower signals scope for a continuation towards 1.3491, the 61.8% retracement. On the upside, initial firm resistance is seen at 1.3649, the 20-day EMA.