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- RES 4: 1.3272 High Aug 14 and a key resistance
- RES 3: 1.3245 High Aug 20 and key intraday resistance
- RES 2: 1.3236 20-day EMA
- RES 1: 1.3133 Low Aug 19 and recent breakout level
- PRICE: 1.3057 @ 16:30 BST Aug 31
- SUP 1: 1.3023 1.0% 10-dma Envelope
- SUP 2: 1.3023 Low Aug 31
- SUP 3: 1.3000 Round number support
- SUP 4: 1.2976 Low Jan 8
USDCAD remains bearish and Friday hit yet another fresh cycle low at 1.3023. Continued selling pressure confirms a resumption of the downtrend and extends the bearish price sequence of lower lows and lower highs that continues to dominate. With further bearish pressure likely, attention is on 1.3000 next, psychological support. Further out, the focus is on the Dec 31 2019 low of 1.2952. Initial resistance is at 1.3133. Bearish!