FX.co ★ crystal66 | USD/CAD

On the H4 chart, the technical picture looks good. Yesterday's high at 1.3627 confirmed resistance, and now the price is simply sliding along the lower Bollinger Band. The Ichimoku cloud is as far as the moon, hanging high and pressing from above, so the trend is strictly bearish for now. Currently, we are hovering in the blue zone 1.3590-1.3595, and if we don't find support here during the US session, the next stop will be at 1.3570, and then it's just a stone's throw to the weekly support at 1.3560. But I wouldn't rush to short from current levels, as the Bollinger Bands have already stretched significantly and some sort of technical bounce seems likely for relief. Most likely, they will first push down to finally shake out the longs, and then draw a return to 1.3620 for a retest. I have no desire to jump into this mess yet, I'll wait to see how the 1.3590 zone plays out.