USDCAD reaches the next downside target

Technical Analysis

Author: Greg Michalowski | usdcad

Sellers remain in control

After re-breaking the 100 day moving average at 1.32238, the USDCAD selling has continued down to the next key target area at the 200 bar moving average on the 4 hour chart at the 1.31997 level.  Also at the level is a natural 1.3200 level.

Sellers remain in control_
Do buyers come in and stalls the fall or do we get continued selling with the 50% retracement at 1.31842 as the next target (see yellow area in the chart above)?

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