Chart USD/CAD Update: Sharp reversal to critical support at 1.26

FX:USDCAD   U.S. Dollar / Canadian Dollar
The pullback from 1.2800 has given way to a sharp break lower, with FX:USDCAD now pressuring critical support at the 1.2625/30 weekly lows from 6-14 January.
Intraday studies are oversold, highlighting scope for short-term consolidation around here, but daily readings have ticked down, pointing to further losses in the coming sessions. A close beneath here will turn sentiment outright Negative, and extend broad March 2020 losses towards the 1.2527 low of April 2018.
Meanwhile, resistance is at 1.2700.
An unexpected close above here would delay downside development and put prices into cautious consolidation, capped by 1.2800.
We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at


Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out