USD/CAD is currently trading near the lower boundary of a well-defined descending channel. The price has shown signs of holding near 1.35660 support, which may lead to a short-term rebound.
If momentum builds, the first resistance to watch is 1.36083, followed by 1.36185. However, a confirmed break below 1.35660 would invalidate the bullish scenario and open room for further downside.
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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.