Yesterday, the USD/CAD pair traded lower and closed the day in the red zone around the price of 1.3485. Today the pair also fell slightly, dropping to 1.3475. On the hourly chart, USD/CAD is still trading below the moving average line MA (200) H1 (1.3570). The situation is similar on the four-hour chart. 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 for the formation of a correction.
Probably, the main scenario is a continued decline to 1.3470 (Sep 18 low).
The alternative scenario is consolidation above the MA 200 H1 line, followed by growth to 1.3695 (Sep 7 high).
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