FX.co ★ Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday January 08, 2025.

If we look at the 4-hour chart of the USD/CAD commodity currency pair, it appears that a bearish Pitchfork channel and a Bearish 123 pattern have formed, coupled with confirmation that the price is below the EMA (21), then in the near future, as long as there is no strengthening that breaks through and closes above the 1.4462 level, USD/CAD will weaken down to the 1.4180 level and if the momentum and volatility support it, USD/CAD will enter the 1.4129-1.4065 area.

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