USDCAD – The pair closed lower again following its Tuesday losses on Wednesday. This has cleared the way for more weakness. Support lies at the 1.2900 level where a break will aim at the 1.2850 level. Further down, support comes in at the 1.2800 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.2750 level. Conversely, resistance lies at the 1.2950 level where a violation will target the 1.3000 level. Further up, resistance resides at the 1.3050 level and then the 1.3100 level. All in all, USDCAD looks to weaken further lower.
