Key Support Remains Exposed

• RES 4: 1.3214 61.8% retracement of the Oct 29 - Nov 9 sell-off
• RES 3: 1.3149/73 50-day EMA / High Nov 13 and the bull trigger
• RES 2: 1.3123 High Nov 19
• RES 1: 1.3029/79 High Nov 25 / 20-day EMA
• PRICE: 1.2984 @ 17:08 GMT Nov 30
• SUP 1: 1.2923/17 Low Nov 30 / Low Oct 16, 2018
• SUP 2: 1.2857 Low Oct 4, 2018
• SUP 3: 1.2821 0.764 proj of Oct 29 - Nov 9 sell-off from Nov 13 high
• SUP 4: 1.2800 Low Oct 2, 2018

USDCAD remains vulnerable following the sharp sell-off on Nov 24 and has continued to depreciate today. The pair stalled at 1.3173 on Nov 13 and while this leve remains intact, the outlook is bearish. The Nov 13 candle formation, a doji, reinforces the bearish theme. The pattern signalled the end of the recent Nov 9 - 13 correction, suggesting the downtrend is set to resume. Attention is on 1.2917, Oct 16 2018 low and the bear trigger.