USDAD after the breakdown of the trend line

USDCAD

The pair continued to fall USDAD after the breakdown of the trend line from 29 June. The sale was pushed right through a key support area between 0.9650 and 0.9675, and is expected to continue lowering the price to test the minimum of 0.9450, reached on May 1. Given the sharp fall would be prudent to wait before entering a decline, which could include a test of the support area, which now acts as resistance level.