Emerging Channel Down pattern in its final wave was identified on the USDCAD 30 Minutes chart. After a strong bearish run, we find USDCAD heading towards the upper triangle line with a possible resistance at 1.3697. If the support shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
After testing the support line numerous times, USDCAD is once again approaching this line. Can we expect a bearish trend to follow?
