USDCAD Price Update Clean & Clear Explanation
USDCAD Price is currently trading inside a descending channel, showing an overall short-term bearish structure. The market recently bounced from a lower demand zone (~1.35501.356 and pushed back toward the mid / upper channel resistance around 1.35851.3600.
A clean breakout and hold above the descending trendline could trigger a short-term retracement toward 1.36051.3610, but this area still favours sellers unless structure fully flips.
The setup favours sell-on-rallies while price remains below the descending trendline. Bulls need a confirmed breakout above resistance to invalidate the bearish bias. Until then, downside continuation toward lower demand zones remains the higher-probability move.
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