USDCAD DOWNTREND FORMATIONUS dollar stopped its gain and reverted against the most major currencies. On the 4H graph against Canadian dollar, the instrument managed to break the support of the forming uptrend channel and started reverting into downturn.
MACD histogram indicator is confirming this downtrend, the RSI fast moving line is already below the 50 neutral line, but with clearly expressed downtrend.
If this trend continues the price might test levels of 1.3349 but in the opposite scenario the price might try to reach its previous resistance at 1.3403
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