200 day MA the next target
The USDCAD has moved below the support area and the lows from the week (below 1.2568 – see earlier post here). The low price has reached 1.2551. The next target comes in at the 200 day MA at 1.2535. The price of the USDCAD has not traded below the 200 day MA since August 16.
Stay below the low of the swing low for the week at 1.2568 is the best scenario for shorts. Staying below the low of the swing area at 1.25778 is another risk target.