Technical Analysis

The USD/CAD pair is moving within a clear descending channel on the 4-hour timeframe. Price failed to break the upper boundary of the channel and is now pushing lower from the 1.3660 resistance level. Currently, it's testing the 1.3590 support level. A confirmed break below this level could lead to the next target around 1.3539. The trend remains bearish unless the price breaks above the channel.