USDCAD broke below 1.2544 support and extended its downside movement from 1.2943 to as low as 1.2526.
As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2450 area. Only a clear break above the trend line resistance could signal completion of the downtrend.
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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