has seen much downfall after peaking. breaking numerous historical resistance turned support zones. Price also led to a break and close below a strong weekly ascending trend line
successfully putting in place a retracement of this trend line
. We have now witnessed on the daily, USD/CAD
breaking and closing below 1.27957 support leading us to further bearish
momentum. We have placed our target in line with a previous bounce of the historical weekly trend line
@1.21183 and has been highlighted by thee green box. Appropriate stops would be placed above the broken support.