The USD/CAD pair is moving within a clear descending channel on the 4-hour timeframe. Price failed to break the upper boundary of the channel and is now pushing lower from the 1.3660 resistance level. Currently, it's testing the 1.3590 support level. A confirmed break below this level could lead to the next target around 1.3539. The trend remains bearish unless the price breaks above the channel.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.