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USDCAD H4 Chart Analysis: The last closed candle may push the 50% Fibonacci retracement level above 1.41364, which will be the dominant range for buyers, while the sides Outer range may challenge the bulls to challenge 1.41964 in a significant divergence range. USDCAD is currently trading around 1.40464. The US index will drop in value over the next few sessions, pushing the primary support below 1.40064. Following this, a price rebound will create a positive base around 1.40664. Bollinger Bands and oscillators diverge significantly in the current scenario; the price is declining to meet the bearish convergent floor close to the 1.39914 fusion floor support, and the midline cannot find enough buyers to continue the bullish extension of the 100-day SMA at 1.40764. Remember that the pair is continuously fighting the 38.8% Fibonacci retracement level despite a few powerful rises. Notably, the moving averages are bearish, the MACD continues its sideways journey at the red trigger midline and points north, and the RSI remains slightly above the 50-neutral threshold. In order to break new support or resistance levels and determine the market's trend direction, traders must adhere to a currency management strategy and concentrate on high-impact news information. A bullish harmonic triangle pattern will react to buyers on the 4-hour timescale, while overconditioning might aim for the high monthly divergence at 1.41364; if this barrier is broken once more, other elements might rise sharply and other features might rise substantially. In the 100 range, it can move far higher. 1.41964 is the simple moving average. Furthermore, the bulls might not be able to sustain further losses below the 25- and 50-day simple moving averages at 1.39064 if selling fall precipitously below the 38.3% Fibonacci retracement level at 1.39804. Many swinging PIPs in the 1.38464–1.42364 band will be caught this week thanks to important high-impact news data from NFP announcements and indicator signals. A strong bullish base is indicated by the current stability above 1.40464, but further growth might push prices higher and break 1.41464 in a significant consolidation range; if this obstacle is overcome, watch for a reversible decline below 1.39964 on a weekly and daily basis at the 1.39264' de pivot point area.

USD/CAD

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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