On the daily chart of the USD/CAD pair, we can see how the sloping resistance of the ascending channel is working. Just yesterday, the price reached this sloping area around 1.4240, and today we are seeing a decent pullback downwards. Let's see if it can evolve into the beginning of a corrective wave down, considering that over the past couple of months the pair has shown significant growth, moving north without a significant pullback of about 800 points. If a correction occurs, it could at least target levels of 1.4125, 1.4150. If they manage to break through this support zone, we could expect a deeper correction towards 1.4000.
