FX.co ★ USD/CAD

The end of last week's trading for the USD/CAD currency pair indicates the continuation of a short-term sideways movement within the framework of a medium-term downtrend. The most likely scenario remains a southward movement for the USD/CAD price perspective, with support at 1.3745 and resistance at 1.3795 and the round level of 1.3800. Currently, the USD/CAD price is near the mentioned level, with a 4-hour "Zigzag" indicator signaling the end of the uptrend, accompanied by a stochastic reversal to the south. Therefore, we just need to wait for the Relative Strength Index indicator to switch in favor of sellers. This could lead to a new downward wave for the USD/CAD towards the support at 1.3745, possibly starting on Monday.