Overview:
As expected, the support has broken and turned to resistance at the same key level (1.0950). So, resistance of the USD/CAD pair has already set at the price of 1.0950 and the double top is placed at the price of 1.0959. Equally important, the price set below the resistance level a week ago. Furthermore, the price is moving between 1.0950 and 1.0895. Therefore, the USD/CAD pair started showing the signs of the bearish market. Hence, the market indicates the bearish opportunity at the level of 1.0950 with the first target of 1.0910, and continues towards the level of 1.0885 again. It should be noted that the price of 1.0885 coincides with the ratio of 78.6% Fibonacci retracement levels.