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USD/CAD extends downside below 1.3600

The USD/CAD has been under further pressure today. The US dollar has fallen more extensively below the 1.36 handle and recently set a session low at 1.3575, after setting a close last night at 1.3616. The fall today has now taken the price to below a Fibonacci support level at 1.3591. That represents a 38.2% correction of the move from 1.3093, to the most recent high at 1.3899. Should the current downswing extend further, the next level in that respect, is the 50% correction and that is in place at 1.3496. Ahead of that lies support at 1.3551 from the current 100 day moving average. The USD/CAD is currently trading at 1.3581
 

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