HomeLive CommentsUSD/CAD downside breakout, EUR/CAD heading back to 1.5313 low

USD/CAD downside breakout, EUR/CAD heading back to 1.5313 low

 

USD/CAD breaks through 1.2768 temporary low as brief consolidations completes. Current down trend should now target 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. Break will target 161.8% projection at 1.2426.

EUR/CAD is also  breaking 1.5447 support to confirm completion of whole rebound from 1.5313, at 1.5710. Fall from there should now target a test on 1.5313 low. Also such decline is seen as the third leg of the corrective pattern form 1.5978, break of 1.5313 should bring a test on lower channel support (now at 1.5247).

 

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