USDCAD trades to new session lows.

USDCAD trades to new session lows.

Bearish BREAKS continue

Another one (i.e. level) bites the dust. 

This one is the 61.8% at 1.2581. The price has moved to a new low of 1.2556. 

Part of the catalyst was the holding below the broken trend line and 200 day MA at the 1.2616-29 area. The high price reached 1.2622 – between the levels.  Staying below, kept the bears in control. 

The door remains open for more downside. The 1.2527 and 1.2450 are targets now.  Close risk is now the 61.8% at 1.25812..

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