USDCAD breaks through trend line support.

Below trend line at 1.3166

The USDCAD has fallen to new session lows and in the process has fallen below trend line support on the daily chart at 1.3166. The pair also moved below the June 14 low at 1.31641.

Looking at the hourly chart, the day started with the USDCAD trading around the 200 hour MA after stalling on Thursday, Friday and again yesterday in the 1.3108-11 area. Today, there was a stall above and below the area. However, there was a push lower on the back of the dollar weakness and now a break below the June low at 1.31644 level. Sellers are in control. 1.31644 is close risk for sellers.