USDCAD moves lower after better Manufacturing Sales data. What are the technicals saying? ...Middle East

The move to the downside has taken the pair toward a cluster of support, including:

Swing low level: 1.38127

The session low has so far reached 1.38144.

Buyers will look to lean against this cluster - they stop on a break below - to build a rebound.

Adding to the bearish tilt, the pair failed to extend above the swing area between 1.3878 and 1.3917 last week. On the flip side, the 200-bar moving average has repeatedly acted as support, increasing its importance as a pivotal level to watch.

The battle zone between the buyers and sellers at the key technical level.

This article was written by Greg Michalowski at investinglive.com.

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