FX.co ★ USDCAD technical analysis for July 4

The price has been moving downside for six days already.
The price has broken relevant support levels, in particular, the Fibonacci 23.6 long-term correction level.
It is worth mentioning that by this moment the price has returned to the limits of the major trend.
In 4-hour and daily graphs the Stochastic Oscillator is in a strongly oversold zone.
At the moment we might expect a correction rebound of the price to the upside limited by the 23.6 Fibonacci correction level.