The trend structure in USDCAD remains bearish and the pair traded lower Thursday, delivering a fresh cycle low. Support at 1.3686, the May 26 low and a bear trigger, has been cleared. This confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. Sights are on 1.3579 next, a Fibonacci projection. Resistance at the 50-day EMA is at 1.3918 - a key level. The 20- EMA is at 1.3801.
Find more articles and bullets on these widgets:
Stocks rebound off lower levels following headline that Pres Trump rescinds global chips curb: