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- RES 4: 1.2881 High Jan 28
- RES 3: 1.2807/46 High Jul 19 / 1.236 proj of Jun 1 - 21- 23 swing
- RES 2: 1.2730 High Jul 20
- RES 1: 1.2607 High Jul 23
- PRICE: 1.2437 @ 16:39 BST Jul 29
- SUP 1: 1.2428/20 Low Jul 14 / 50-day EMA
- SUP 2: 1.2407 50.0% retracement of the Jun 1 - Jul 19 rally
- SUP 3: 1.2313 61.8% retracement of the Jun 1 - Jul 19 rally
- SUP 4: 1.2253 Low Jun 23
USDCAD traded lower Friday. The pair has breached immediate support at 1.2525, Jul 28 low and 1.2502, Jul 14 low. The break suggests scope for a deeper corrective pullback and attention is on the 50-day EMA that intersects at 1.2420. A clear breach of the average is needed to strengthen the current downward cycle. On the upside, initial resistance is at 1.2607, Jul 23 high. A break of this level would ease the bearish pressure.