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- RES 4: 1.2653 High Apr 21 and the bull trigger
- RES 3: 1.2491 High Apr 26
- RES 2: 1.2413 20-day EMA
- RES 1: 1.2365/2419 Low Mar 18 / High Apr 27
- PRICE: 1.2193 @ 16:37 BST May 6
- SUP 1: 1.2182 2.0% Lower Bollinger Band
- SUP 2: 1.2181 Low May 6
- SUP 3: 1.2143 2.0% 10-dma envelope
- SUP 4: 1.2178 1.382 proj of the Jan 28 - Feb 25 - Feb 26 price swing
USDCAD fell further Thursday, hitting new cycle lows at 1.2181 and taking out near-term support in the process. This keeps the pair solidly in bear mode after recent weakness. MA studies also highlight a downside bias, reinforcing current trend conditions. 1.2239, a Fibonacci projection, gave way, opening vol band support at 1.2143. On the upside, initial resistance is at 1.2365/2419.