FX.co ★ USD/CAD

As of today, the USD/CAD currency pair continues to move within a descending channel, which indicates that sellers still maintain control. After an attempt to hold above the 1.4176 level, a decline began. I expect that in the near future the price of the pair will move roughly in the range from 1.4115 to 1.4070. At the moment, the 1.4115 level is the nearest support; if the price manages to break below this level, it may become one of the first signals that a move toward 1.4070 is likely to begin, although a pullback is also possible. However, it is important to note that the price is currently above this point, so the priority movement remains bearish.