FX.co ★ USD/CAD analysis for March 31, 2023 - Potential for the downside continuation

Technical analysis:

USD/CAD has been trading downside as I expected and the price has reached the first downside objective at 1.3517. I still see potential for the downside continuation.

Due to the bearish condition and supply in the control, I see potential for the further downside movement towards lower reference.

Downside objective is set at the price of 1.3475

Market is testing the Middle Bollinger on the hourly and recent swing highs, which is good area for potential downside continuation.

Intraday resistance is set at 1.3530