USDCAD Analysis: Triple Top Pattern and Bearish Outlook

719
Hello everyone, what do you think about USDCAD ?

The USD/CAD pair has formed a Triple Top Pattern, indicating a potential reversal after struggling to break through recent highs. The price has failed to maintain the bullish momentum and has been rejected at key resistance levels. With the market showing signs of a downward trend, we can expect the price to continue to decline towards the support zone, a critical level to monitor.

The next key support level lies around 1.375. If the price continues to stay below the resistance, the likelihood of a drop to this level is high.

Stay alert and trade smart.
Good luck!
Note
The trade has ended, the USD has recovered, and USDCAD has surged sharply.

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