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Clears 2019 Low

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4
  • RES 3: 1.3215 50-day EMA
  • RES 2: 1.3178 High Nov 5
  • RES 1: 1.3081 Low Oct 21
  • PRICE: 1.3014 @ 06:21 GMT Nov 10
  • SUP 1: 1.2929/17 Low Nov 9 / Low Oct 16, 2018
  • SUP 2: 1.2912 2.0% 10-dma envelope
  • SUP 3: 1.2857 Low Oct 4, 2018
  • SUP 4: 1.2783 Low Oct, 1 2018 and a key support

USDCAD traded lower yesterday extending the most recent sell-off from 1.3390, Oct 29 high. More importantly, the pair fell solidly through the Dec 31 2019 lows, hitting the lowest level since mid-2018 in the process. Various levels of support, most notably 1.2952, the Dec 2019 low gave way Monday. This reinforces the bearish them and opens 1.2917 and 1.2857, the Oct 16 and Oct 4, 2018 lows respectively. 1.3081 is seen as a firm resistance.

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