More downside momentum in the USDCAD

Tests swing area and retracement after breaking the 200 hour MA

Tests swing area and retracement after breaking the 200 hour MA

The USDCAD has now broken the 200 hour MA and ran to the next support target(s).  A swing area comes between 1.25408 at 1.25474. The 38.2% retracement of the move up from the March 18 low cuts across at 1.25387. The pair just tested that area and is finding some support buying.

The pair cracked below its 100 hour moving average/trendline earlier near the 1.2597 area around 65 minutes ago.  The low price just reached 1.25387 or 59 pips.  Good move in a short period of time.
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