Will the currency pair continue to decline?
The bearish trend started from 1.3075 and the short term trend of the US dollar against the Canadian dollar is down to the support of 1.401. The definitive breakout of this rate marks the end of the uptrend starting in 1. 2005 and the USDCAD will move to lower levels.
However, in the eyes of buyers, if the USDCAD crosses above the slight resistance of 1.2884, the short-term uptrend of the market will be revived and the pair can return to the level of 1.3075.
* Technical H4 analysis of USDCAD
* Technical daily analysis of USDCAD
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