USDCAD: Price hesitation may have been triggered but USDCAD continues to hold on to its broader downside.Support lies at the 1.0252 level, its daily 200 ema.
Ultimately, it will have to retake the 1.0181 level to trigger its medium term downside pressure. Below here will aim at the 1.0100 level. Its daily is bearish and pointing lower suggesting further downside.
Conversely, resistance resides at the 1.0339 level with a break paving the way for a run at the 1.0400 level. This if taken out will call for a run at the 1.0450 level where a breach will aim at the 1.0500 level.
Above here will aim at the 1.0600 level. All in all, USDCAD continues to face its downside pressure.
Guest post by FX Tech Strategy
