USDCAD remains in a bear cycle and continues to trade lower. A bearish theme follows the recent break of the Jul 30 low of 1.2422. This signals scope for an extension of the downleg and has opened 1.2253 next, the Jun 23 low. Note too that moving average conditions are in a bear mode and this reinforces current trend conditions. Initial firm resistance is seen at 1.2494, Sep 3 low. A break would ease bearish pressure.

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Taso Anastasiou

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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Bear Leg Extends