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- RES 4: 1.2419 High Apr 27
- RES 3: 1.2363 20-day EMA
- RES 2: 1.2351 High May 4 and a key near-term resistance
- RES 1: 1.2197/2288 High MAy 7 / High May 6
- PRICE: 1.2114 @ 07:06 BST May 10
- SUP 1: 1.2100 Round number support
- SUP 2: 1.2081 1.618 proj of the Jan 28 - Feb 25 - Feb 26 price swing
- SUP 3: 1.2062 Low Sep 2017 and a major support
- SUP 4: 1.2036 2.0% 10-dma envelope
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.