The USDCAD nearly filled the gap from March.

The USDCAD has dropped in an incredible fashion the last couple sessions as we try to close the gap from the early March when the Covid-19 pandemic struck the USA and rest of the world. The sharp selloff has us just pips away from the 200dma (1.4362) and the gap fill (1.3420) which may offer a counter trend bounce now that the daily RSI has reached oversold. The 78% Fibonacci retracement of the end of February lows (when the move started) to the March highs is 1.3517 which we just closed below.