USDCAD: Triple Bottom

USDCAD, Daily

In the Daily timeframe, USDCAD, after a long-term rise, formed a triple bottom pattern, and the price fell to the critical support area. The price tests MA200, with the %R indicating a high oversold level, but the bearish sentiment is strong.

• If the price falls below 1.3600 and MA200 support, the target will be 1.3450;

• A rebound from the support will bring USDCAD back to 1.3750;