USDCAD risk through 1.0625 for 1.0600 and 1.0560 targets
Further erosion as expected to yet another new setback low to further reinforce the bear trend.
The prior plunge below 1.0813 points to more significant bearish pressures and leaves the threat into early July down to the key long term trend line from 2012, at 1.0625.
Overshoot threat is initially to the retrace/ chart area at 1.0600/ 1.0560.
The growing risk though is still lower to 1.0515 and maybe even 1.0415.
WHAT CHANGES THIS?
- Above 1.0845 eases bear risks; through 1.0890 signals a neutral tone, only shifting positive above 1.0960.
Weekly USDCAD Chart
Daily USDCAD Chart