USDCAD Downside Breakout

There's confluence across two timeframes. The downside breakout on the hourly timeframe can also be observed on the daily timeframe as well. A key level is being breached as we speak. Downside to be expected as long as price holds below.

Kommentera:

Here's the daily chart:

As long as price holds below 1.2838, we can expect downside momentum.