USD/CAD Tests Key Trendline at 1.367
Solid ECN—The USD/CAD currency pair tests the ascending trendline at approximately 1.367, with the technical indicators in the 4-hour chart suggesting the bearish momentum might extend to the lower resistance level.
The primary trend is bullish, with the price above the 38.2% Fibonacci level. If the USD/CAD price holds above the 1.366 mark, the uptrend will likely resume to retest the 1.370.
Conversely, if the price dips below 1.366, the bullish outlook will be invalidated. In this scenario, the next support level will be at the 50% Fibonacci retracement level at 1.364.