USDCAD 4H slipping...
By the price position since last month(August) the price seems to be in an uptrend correction after a strong fall from the beginning of August. It is not clear if this upward move it is just a correction or some trend change but sure to confirm a change the price needs to break the 1.36153 previous Support turned Resistance. The Daily support at 1.34392 still strong and the most relevant Resistance level is at 1.37868, probably the next target if price breaks the 1.36153. The RSI is just about to leave the overbought level what may indicates a possible pullback, even for a short drop to re-test the dynamic Support for the EMA(21). The drop of the Brent Oil has helped the USD in recovering some losses, as well as the risk appetite caused by the global economic turmoil pushing the investors for the “safe heaven” like USD or JPY.
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