Technical analysis on the Canadian dollar - USDCAD

Technical analysis of the Canadian dollar against the US dollar:

The pair is trading in a bearish channel on the daily frame, as shown in the figure above. The technical indicators show us the negative pressure and bearish momentum that the pair is currently facing. Traders are advised to enter short positions only inside the descending channel. Targeting the buying point at 1.2315

Technically: the pair is bearish as long as prices remain inside the descending channel

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