The currency pair USD/CAD significantly slumped after the data for the Canadian economy relating to employment and the construction of new homes.

Declines have resulted to break the support line visible on the 1-hour chart of currency pair USDCAD. It seems that the downward trend will be maintained, but it can still lead to re-test the broken support in the form of a trend line, which is now resistance.

If the breakout will be confirmed, you can consider buying a PUT option (on decreasing the prices). However, it is well to reflect on the price at which the purchase would be made, and the moment of expiration.


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