On Friday, the USD/CAD traded lower and closed the day in the red around the price of 1.4350. Today the pair also fell slightly, dropping to 1.3615. At the same time, on the hourly chart, USD/CAD is still trading above the moving average line MA (200) H1 (1.3600). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above MA 200 H1, may be you need to look for entry points to buy at the end of the correction.
Probably, the main scenario is a resumption of growth towards 1.3675 (the high of the US session on Sep 8).
The alternative scenario is consolidation below the MA 200 H1 line, followed by a decline to 1.3495 (Sep 1 low).
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