Good day! The US dollar has started an active recovery after yesterday's drop on negative inflation news for the US in April. At the moment, the USD/CAD pair, bouncing off the key level of 1.3900, has already risen by 50 points. Additionally, the second four-hour candle is bullish, indicating a potential test of resistance at 1.3975 with a breakout of the 14-period moving average and a move towards the upper boundary of the trend channel as per the "2 EMA Color Alerts" trend indicator. Near this resistance level, the price may form a small zigzag pattern to confirm its significance before continuing its bullish attempt to break and hold above the 1.40 level, potentially reaching a new high at 1.4015.
