USDCAD Technicals: USDCAD falls through 61.8% retracement and tests old ceiling/floor

The USDCAD has continued it’s move to the downside (see earlier post here), and in the process moved below the 1.4000 level, the 61.8% retracement level I.39837, and into a swing area between 1.3968 and 1.3975 where buyers have now stepped in. Is the low in?

In the video above I take a look at the technicals driving this currency pair and what would now turned the bias back around?

This article was written by Greg Michalowski at investinglive.com.