Short

USDCAD Channel Down aiming for the 1D MA200.

The USDCAD pair has been trading within a Channel Down and is currently around the 1D MA50 (blue trend-line) following its latest Lower High formation.

If the current Bearish Leg is as strong as the previous one, we can expect the price to hit at least the 1D MA200 (orange trend-line) at 1.4000.

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