USD/CAD Price Analysis: Bears losing their grip as price attempts to break channel resistance – by fx_ross USDCAD Technical Analysis
Bears will remain favoured so long as the channel is respected. has seen two-way price action in a mixed start to the week so far. The following illustrates the bullish and bearish scenarios on the hourly chart, leaning on a daily bearish bias. With the price on the backside of the prior bullish trend, USD/CAD remains in a bearish trend despite the recent correction. The bears could look to commit at this juncture and see the price revert to the downside within the descending channel.
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