USD/CAD Falls Sharply Toward 1.3900 Support as Bears Target 1.3800
Updated
Updated · continuumeconomics.com · Aug 7
USD/CAD Falls Sharply Toward 1.3900 Support as Bears Target 1.3800
3 articles · Updated · continuumeconomics.com · Aug 7
Summary
USD/CAD slid sharply in both USD- and CAD-driven trade, putting immediate focus on strong support at 1.3900 after cautious trading gave way to the expected downside move.
Daily stochastics are already oversold, which could slow an initial break in the pair and trigger brief consolidation around 1.3900.
A close below 1.3900 would extend the late-June decline toward 1.3820 and 1.3800, with 1.3715 the next deeper retracement level.
Resistance has been lowered to 1.4000; a close back above that level would help stabilize price action and keep consolidation capped below 1.4050.