USDCAD: Vulnerable, Faces Corrective Pullback


USDCAD: Having continued to hold below the 1.0793 level, our bias remains lower on pullbacks.

On the downside, support is seen at the 1.0600 level where a break will aim at the 1.0550 level. Further down, support comes in at the 1.0500 level and then the 1.0450 level.

On the upside, resistance resides at the 1.0700 level where a break will expose the 1.0750 level. A violation if seen will target the 1.0800 level. Further out, resistance resides at the 1.0850 level followed by the 1.0900 level. All in all, USDCAD continues to weaken targeting further downside.


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