USD/CAD fell yesterday, closing in the red around 1.3690. It fell slightly today as well, dropping to 1.3665. On the hourly chart, USD/CAD is still trading above the moving average MA (200) and H1 (1.3665). The situation is similar on the 4-hour chart. Based on the above, it is probably worth sticking to the north direction when trading, and while the pair remains above the MA 200 H1, you may need to look for an entry point to buy at the end of the correction.
Resistance levels are located at 1.3715, 1.3735-40, and 1.3780.
Support levels are 1.3645, 1.3605–15, and 1.3570–80.
The main scenario is probably a resumption of the rally to 1.3715 (October 23 US trading high).
An alternative scenario is for the price to hold below the MA 200 H1 line and then fall to 1.3580 (October 12 low).
