USDCAD Bullish Rally into Supply Zone – Potential Pullback Setup
USDCAD is in a strong bullish trend, forming higher highs and higher lows after a breakout from the consolidation and ascending channel. Price has now reached a key supply zone near **1.3890–1.3900**, where selling pressure is expected.
A corrective pullback is likely from this level, with the immediate downside target around **1.3800**, aligning with previous structure and dynamic support from the Ichimoku cloud.
Overall trend remains bullish, but a **short-term retracement toward 1.3800** is anticipated before any continuation higher.
A corrective pullback is likely from this level, with the immediate downside target around **1.3800**, aligning with previous structure and dynamic support from the Ichimoku cloud.
Overall trend remains bullish, but a **short-term retracement toward 1.3800** is anticipated before any continuation higher.
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