November 9 low comes in at 1.29274. Trend line cuts across at 1.2930
The USDCAD is down testing a lower trendline at 1.2930 and the low price from November 9 at 1.29274. The two levels could give sellers some cause for pause.
The USDCAD traded Friday and today above and below a swing area between 1.29842 and 1.29894. In the early European session, the sellers started to take more control and pushed the price to the downside. The pair has seen 8 and last 9 hours show hourly bar declines.
A move below the November low will take the price to the lowest level since October 2018.
