USDCAD Remains Vulnerable On Price Extension.
USDCAD remains vulnerable to the downside as it closed further lower on Monday. Support lies at the 1.3050 level where a break will aim at the 1.3000 level. Further down, support comes in at the 1.2950 level where a break lower may occur. This if seen will trigger further weakness towards the 1.2900 level. Its daily RSI bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.3150 level where a break will target the 1.3200 level. Further up, resistance resides at the 1.3250 level and then the 1.3300 level. All in all, USDCAD looks to weaken further on further decline.
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