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- RES 4: 1.2469 50-day EMA
- RES 3: 1.2419 High Apr 27
- RES 2: 1.2351 High May 4 and a key near-term resistance
- RES 1: 1.2194/2288 High May 7 / High May 6
- PRICE: 1.2086 @ 16:21 BST May 11
- SUP 1: 1.2079 Low May 10
- SUP 2: 1.2062 Low Sep 2017 and a major support
- SUP 3: 1.2007 2.0% 10-dma envelope
- SUP 4: 1.1920 Low May 2015
USDCAD remains in a clear downtrend and continues to register fresh lows. Moving average studies are in a bear mode and the move lower confirms an extension of the bearish price sequence of lower lows and lower highs. The pair is approaching a major pivot support at 1.2062, the Sep 2017 low. This level will potentially either reinforce the current M/T bear leg if breached or lead to a reversal if the support manages to contain CAD strength.