I was expecting the USDCAD to complete the correction of the BC leg down move at the 38% level. However, price moved down breaking the lows of the previous weeks and the market seems to be bearish now finding resistance at the yearlyPP. In spite of this the expectation is still to the significant resistance levels which include the 50sma, 38% retracement, SSB 50% level of the previous impulse move, and previous structure. Volumes are low and decreasing so the current down move is not supported by volume. So a potential move long is still expected.
