Bounces off swing area
The USDCAD has also moved sharply lower on the Powell headlines.
The low so far, has stalled near a swing area in the 1.32577-648 area (see green circles) and ahead of the 100 hour MA and 200 hour MA (blue and green lines at 1.3247 and 1.3231 levels.
Risk can be now eyed at the 1.3290-1.3300 level. The 1.3290 level is the broken 38.2% level There was a corrective low near that level at the start of today. The 1.33000 is a natural level of resistance that should limit the upside on a correction higher (if the sellers are to keep most of the control)..