Tests a swing area on the weekly chart
The USDCAD is sharply lower and trending to the lowest level going back to early 2018. The pair is testing some swing lows between 2016 and 2018 at the 1.2413 to 1.24606 area. Move below and it opens up more downside potential with the swing low from 2018 at 1.22445 and the swing low from 2017 at 1.20612 the next key target on the downside on the weekly chart.
Looking at the hourly chart, the price has moved back below the underside of the broken trendline as well near the 1.2337 area. Stay below 1.2334 to 1.2340, keeps the sellers more control.
