FX.co ★ USD/CAD

USD/CAD I have been selling all week several times. The price was showing a decent decline, although it was often in consolidation. Today it broke the 50% support level of the four-hour Fibonacci retracement at 1.3900, from which I wanted to see a reversal and a pullback rise, and then a return to the key target level of 61.8% (1.3820). It is becoming clear that USD/CAD will fall to 61.8% without the expected pullback. The price has managed to get close enough to the target to wait for a quick drop. I think we will get it in the near future, and after that the pair will reverse and start rising towards the daily 61.8% retracement target, which corresponds to the price of 1.4300. Locally, they may go into a pullback, but I do not expect anything serious.