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- RES 4: 1.3646 High Jul 14 and key S/T resistance
- RES 3: 1.3509/3600 50-day EMA / High Jul 20
- RES 2: 1.3537 High Jul 21
- RES 1: 1.3460/91 High Jul 30 / Low Jul 9
- PRICE: 1.3339 @ 05:09 BST Aug 12
- SUP 1: 1.3202 Low Feb 21
- SUP 2: 1.3146 3.0% Lower Bollinger Band
- SUP 3: 1.3082 2.0% 10-dma envelope
- SUP 4: 1.3057 61.8% 2017 - 2020 Rally
USDCAD broke through the bear trigger at the Jun 10 low of 1.3316 mid-last week, developing the downside theme and raising the likelihood of a test of the Dec 31 2019 low at 1.2952. Prices have recovered very slightly since then, but are yet to counter the downside argument. The next key support rests at 1.3202, the Feb 21 low. The formation of a so-called 'Death Cross' (50-dma < 200-dma) has worsened the outlook. Resistance remains at 1.3491, Jul 24 high.