USD/CAD is heading towards the support line of a Channel Down and could reach this point within the next 5 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
A quick move expected on USD/CAD as it starts approaching a support line of a Channel Down
