USDCAD

USDCAD: Sells Off, Targets The 1.0099 Level.

USDCAD – Our 1.0099 target is now seen as the next support as USDCAD is seen weakening. A decisive break of here will set the stage for a run at the 1.0050 level where a halt may occur and turn higher.
However, if this breaks, expect a decline towards its big psycho level at the 1.0000 level to occur. Its daily RSI is bearish and pointing lower supporting this view. The pair will have return above the 1.0294 level to halt its corrective downside where a violation will aim at the 1.0341 level. A break of here if seen will target the 1.0400 level with cut through here targeting the 1.0450 level and then the 1.0500 level.
All in all, USDCAD remains biased to the downside on correction.