21:03 UTC
Downtrend, momentum extending · RSI 32 · price 1.39438
Lower highs and lower lows, range floor broken.
USDCAD broke the multi-week 1.400-1.408 range floor and accelerated lower to 1.3944, its lowest in the window, as the dollar was sold on Friday's -23K NFP miss and a strong Canadian jobs beat. Structure is a clean downtrend with descending lower highs and price trading well below EMA20 and EMA50; ATR(14) is expanding as the move extends. Sellers pressed through 1.4000, turning the prior floor into overhead resistance.
Support: 1.3925, 1.3900
Resistance: 1.4000, 1.4022
What it said to watch
- H4 close back above 1.4000 prior floor would invalidate the breakdown
- Break below 1.3925 swing low confirms downtrend continuation
- US CPI Wed Aug 12 could materially shift this read — a hot print risks a bounce toward the 1.4022 swing high