In our last analysis we noted how USDCAD was challenging important horizontal support at 1.3350. We remain bearish as we said before, as long as price is below 1.3475-1.35.
Price is still inside the bearish channel since early 2020. Price is now breaking below 1.3350 key support. It is important for bears to see this level break on a weekly closing basis. The chances of this trend continuing lower are high. Our next target remains at 1.30.