In USDCAD, sellers pushed the price below the swing area between 1.3207 and 1.32299. The low price just hit 1.31942. Staying below 1.32299 will now keep sellers in tight control. Today’s high price reaches 1.32398. A move above this level would target a swing low that would return to Wednesday’s trade near 1.3271. A bearish 100-hour moving average results at 1.33026.
All these levels would need to be broken and stay broken to give buyers some confidence. What is missing is that sellers remain in more control in this pair.