The USD/CAD pair climbed as much as 1.3594 where it has found strong supply. Now, it has dropped below the uptrend line signaling that the uptrend ended. After its strong drop, the rate could come back to test and retest the broken uptrend line.
Technically, the 1.3502 former low represents a downside obstacle, a key level. As long as it stays above it, the currency pair could resume its growth despite dropping below the uptrend line.
USD/CAD Trading Conclusion!Dropping below 1.3502 activates a larger drop and is seen as a selling opportunity.