Although USD was very strong in the past few weeks, USDCAD had a bearish move.
As you see in the chart, price is facing a downside pressure and has a bearish structure. Moreover, in the weekly time frame, price has approached to the resistance level and is rejected from it.
Currently, there is a support level at 1.28 which is also the last low that price has made. If price breaks this level and closes a bearish candle below it, I expect a continuation on the downside move towards the green levels at 1.2720 and 1.2650
As you see in the chart, price is facing a downside pressure and has a bearish structure. Moreover, in the weekly time frame, price has approached to the resistance level and is rejected from it.
Currently, there is a support level at 1.28 which is also the last low that price has made. If price breaks this level and closes a bearish candle below it, I expect a continuation on the downside move towards the green levels at 1.2720 and 1.2650
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