Yesterday, the USD/CAD traded lower and closed the day in the red zone around the price of 1.3455. Today, on the contrary, the pair has grown slightly, rising to the level of 1.3480. On the hourly chart, USD/CAD is testing the strength of resistance - the moving average line MA (200) H1 (1.3485). On the four-hour chart, the pair still remains below the MA 200 H4 line. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.
Probably, the main scenario is a resumption of decline to 1.3425 (Sep 22 low).
The alternative scenario is consolidation above the MA 200 H1 line, followed by growth to 1.3585 (Sep 13 high).
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