FX.co ★ crystal66 | USD/CAD

Hello traders and I wish you successful trading! At the moment, during the decline of the USD/CAD currency pair quotes, the bears have already reached my target at the support level of 1.3750. Earlier, we mentioned that this level was the upper boundary of the price consolidation in the second decade of March and at the same time the maximum reached by the pair on the 21st of this month. Therefore, theoretically, we can expect a technical short-term correction to the upside from here, especially since the "Zigzag" indicator already hints at it, indicating the end of the price drop within the last bearish candle to the level of 1.3756, and the attempt of the Stochastic from the oversold area of the pair. Therefore, if not from the current positions, then after a more thorough test of the 1.3750 level, I expect a correction to the area around the round level of 1.3800, at the level of the pair's previous minimum, also marked by the "Zigzag" indicator. However, in the future, I expect a resumption of the decline and the development of the descending four-hour trend towards the support at 1.3690 and possibly lower to the level of 1.3665, at the pair's minimum from March 23.