USDCAD is currently trading in a strong bearish trend. during the last few days, we saw a nice pullback though.
friday's candle closed on a resistance line of a falling channel. matching with fib.levels of the last legs and a horizontal structure on the left, the price is now clearly trading within a strong structure resistance area.
to catch a bearish continuation I would suggest being focused on a bearish flag formation on 1H. we need a 1H candle close below its support to initiate short.
target levels: 1.332 1.326
stop will be above the last flag's high.
in case of a bullish continuation above the underlined resistance cluster, setup will be invalid.