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   “¢   The pair extended last week’s sharp rejection slide from 100-day SMA and remained under some selling pressure for the sixth session in the previous seven.

   “¢   A subsequent slide below the very important 200-day SMA, to hit near three-week lows around the 1.3125-20 region, clearly points to persistent selling interest.  

   “¢   Bearish technical indicators on daily/4-hourly charts reinforce the negative outlook, though oversold conditions on the 1-hourly chart helped limit deeper losses.

   “¢   However, any attempted bounce back towards the mentioned MA, currently near mid-1.3100s might now be seen as an opportunity to initiate fresh bearish positions.  

   “¢   The pair now seems poised to extend the bearish trajectory and break through the 1.3100 handle towards testing January swing lows, around the 1.3070-65 region.

USD/CAD daily chart


       Today Last Price:  1.3124
       Today Daily change %:  -0.17%
       Today Daily Open:  1.3146
       Daily SMA20:  1.3212
       Daily SMA50:  1.3345
       Daily SMA100:  1.3262
       Daily SMA200:  1.3158
       Previous Daily High:  1.3245
       Previous Daily Low:  1.3134
       Previous Weekly High:  1.3294
       Previous Weekly Low:  1.3134
       Previous Monthly High:  1.3664
       Previous Monthly Low:  1.3118
       Daily Fibonacci 38.2%:  1.3176
       Daily Fibonacci 61.8%:  1.3203
       Daily Pivot Point S1:  1.3104
       Daily Pivot Point S2:  1.3063
       Daily Pivot Point S3:  1.2992
       Daily Pivot Point R1:  1.3216
       Daily Pivot Point R2:  1.3287
       Daily Pivot Point R3:  1.3328