USDCAD: Triggers Sells Off, Eyes More Weakness.
USDCAD: The pair is under pressure for a second day in a row as a follow through on the back of its Thursday losses is underway. This leaves the risk of a return to the 0.9692/31 levels on the cards. A breach of here will call for more declines towards the 0.9500 level and then the 0.9400 level. Its daily RSI is bearish and pointing lower supporting this view. The alternative scenario will be the pair to return above the 0.9841/59 levels. This zone must hold to open up further upside risk towards the 0.9945 level. Further out, the 1.0000/83 levels come in as the next upside objective. All in all, USDCAD has halted its upside offensive and triggered a sell off.