Cracks below swing high from last week
The USDCAD has dipped below a swing area defined by highs from last week at 1.32628. That area was tested today, but just gave way and we are seeing more selling.
The pair now looks toward the 38.2% at 1.3221 and the 200 and 200 hour MA at 1.3213 and 1.32029 respectively. Moves below each target level would give sellers more and more control.