USDCAD: Susceptible, Eyes Further Downside Pressure.
USDCAD - With USDCAD selling off further the past week(weekly chart), further downside is likely. Further down, support resides at the 1.0200 level with a turn below here turning risk to the downside towards the 1.0136 level and then the 1.0100 level. Its daily RSI is bearish and pointing lower suggesting further downside. On the upside, for USDCAD to annul its present downside pressure, it will have to recapture the 1.0367 level and the 0.608 level. This if seen will call for a run at the 1.0650 level. On a break of here, the pair will aim at the 1.0700 level. All in all, USDCAD continues to face downside pressure.