USDCAD two possible Scenarios

USDCAD H4 - TWO POSSIBLE SCENARIOS

this pair is trading inside this green channel, so we are overall bearish here.

price is now sitting around the upper green trendline and orange resistance, so we may expect a downward movement from here

unless price breaks above the orange level 1.4200 upward aggressively, then an upward movement till around 1.4650 would be expected

as mentioned, for now, this pair is overall bearish (going downward), in this case, the first main rejection area is the lower green trendline and blue level 1.380

if price breaks below the blue level 1.3800, then a downward movement till around 1.3500 would be expected