The USDCAD is trading below a support line which was broken below 5 days ago on the 4 hour chart.
We can say a selling opportunity is expected for this pair right after retesting the broken line. When the pullback is completed, it can be the best entry.
You can check the momentum indicator when the momentum indicator crosses below the zero line, it can slowly mean two things; the price of the future, currency pair, or stock has topped out and is reversing or that the price has broken below recent lows. Either way, traders mostly interpret these events as bearish signals.

• There is resistance 1.28300 followed by resistance at 1.28363 and 1.28544.
• There is support at 1.27918, Below, there is 1.27612 and 1.27306.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

usdcad