On 4 hour chart, USD/CAD is now moving in a downslope channel after touching the lower channel. The Loonie is trying to break through the 1.3095 level. The pair is likely to reach the upper line level from the downslope channel. It has already been confirmed by the Divergence between the Stochastic Oscillator and the price. If Loonie declines especially and closes bellow the 1.3034 level then this scenario is unlikely to occur.
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