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USD/CAD Hits New 2022 Lows

CAD
  • USDCAD breaks to fresh YTD lows, slipping through the 1.2430 printed on March 30th to touch 1.2408 on the recent pull lower.
  • This reinforces bearish conditions and extends the move lower triggered by the recent break of 1.2552, 76.4% of the Jan 19 - Feb 24 rally. The break lower opens 1.2387 initially ahead of 1.2328. These levels mark the Nov 10 2021 and Oct 29 2021 lows

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