USDCAD Chart Technical Outlook trades inside a bearish channel, with bears still in control
USD/CAD completed a three-wave corrective structure to the upside and retreated lower from the 38.2% Fibo retracement level. Prices trade within a bearish channel. A spike higher toward the channel resistance at 1.3485-1.3505 is possible. Falling oil prices challenge the bears. Further resistance is seen at 1.3540. Supports are located at 1.3450 and 1.3420. Fading another push higher would be more conservative.
