USD/CAD was rejected at the key resistance zone between 1.36670 and 1.36928, and has since begun pulling back. This reaction comes as price remains within a broader descending channel.
If the bearish momentum continues, the next levels to watch on the downside are 1.36347, followed by 1.35970. A break below those could open the path toward the major support at 1.35402.
🔻 Rejection Zone: 1.36670 – 1.36928
🔻 Support 1: 1.36347
🔻 Support 2: 1.35970
🔻 Support 3: 1.35402
🔻 Trend: Bearish within descending channel
🔻 Timeframe: 4H
This is a technical idea only – not financial advice.
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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.