USDCAD: Bearish Flag

USDCAD, Daily

In the Daily timeframe, USDCAD corrected a bit after a sharp fall and formed a bearish flag pattern. The price bounced off the critical resistance, approaching the lower boundary. William's %R is out of the oversold zone, which may signal the beginning of the decline.

• USDCAD sell may be considered if the lower boundary is broken below 1.3540 with a downside target of 1.3440;