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USDCAD Lower From Fakey Setup

The USDCAD moved lower on Thursday and we can see it's been weakening over about the last three weeks. In our members' commentary on Tuesday, we discussed a fakey / pin bar setup that formed as price tried to move higher but failed as it hit the 8 and 21 day EMA resistance layer. We could see more downside from this setup with support not seen until about 1.0085 - 1.0000.