Looks to test next target area at 61.8%/swing area
The USDCAD broke below a cluster of support including the 38.2%/swing levels and the 200 hour MA at 1.3479-837 and then retested it, before heading to even lower lows on the day. The piar is now looking to test the next cluster of support including a swing floor from last week's trading and the 61.8% retracement (at 1.34285-339). The low just reached 1.34352.
The pair is running with the overall dollar decline. The EUR, GBP, CHF, AUD and NZD are all making new lows vs the USD. The USDJPY has made a double bottom at the 108.06 level but it too is near the day's lows.
