JP Morgan on USD/CAD, this comes via eFX.
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- "In our view a sustained move below 1.24 puts bears firmly in control and sets the market up for an eventual retest of the 1.2047 Aug 2011 50% retrace, 1.206 Sep 2017 low, and 1.20 Jun 2021 cycle trough"
- "The 50-day MA now marks tactical resistance. Jul, Aug, and Sep saw blow-off type highs fail below the 1.2782-1.2993 price lows that defined the longer-term 2019-2020 bearish reversal pattern. We continue to view that threshold as a key area on the chart"
