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- RES 4: 1.3272 High Aug 14 and a key resistance
- RES 3: 1.3263 20-day EMA
- RES 2: 1.3245 High Aug 20 and key intraday resistance
- RES 1: 1.3133 Low Aug 19 and recent breakout level
- PRICE: 1.3069 @ 10:55 BST Aug 28
- SUP 1: 1.3057 61.8% retracement of the 2017 - 2020 rally
- SUP 2: 1.3036 Low Jan 22
- SUP 3: 1.3000 Round number support
- SUP 4: 1.2976 Low Jan 8
USDCAD remains bearish and has hit yet another fresh cycle low at 1.3061 today. Continued selling pressure confirms a resumption of the downtrend and extends the bearish price sequence of lower lows and lower highs that still dominates. With further weakness likely, attention is on 1.3057 next, a Fibonacci retracement. Further out, the focus is on the Dec 31 2019 low of 1.2952. Initial resistance is at 1.3133. Bearish!