📉 USDCAD Price Forecast 📉

USDCAD has been consolidating in a rectangle range between 1.4340 and 1.4460 at the top of the trend. Now, the pair has broken down this range with a strong bearish candle, signaling the start of a downtrend.

USDCAD


An order block at 1.4340 may lead to a retracement before further declines. However, if the price skips retracement, it may fall directly toward the targets.

The 200 EMA will act as support in the first phase—if this level is broken, expect a confirmed drop toward lower targets.

🎯 Technical Target Levels:
1.4185, 1.4135, 1.4100, and 1.4020.

📌 Key Highlights:
– Range breakdown confirmed with bearish momentum.
– Order block at 1.4340 may trigger retracement.
– 200 EMA support—break below confirms further downside.
✅ Stay informed and trade smart!

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