USD/CAD nose-diving lower and lower which brings currency pair to levels which had been last seen in July 2015. Pair is currently at support zone near 1.2535 which was testede several times during last summer.
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If this area is still a good support? We don’t know, but we might forecast some reaction near it. Probable correction would last only to resistance zone made by two EMAs (8 and 21 periods) which is suprisingly close to horizontal resistane at 1.2750.
Altrernative scenario is lack of any bulls reaction which will result in further falls. Nearest support level is 150 pips lower at 1.2380.
