USD/CAD’s four-hour chart shows 1.40493, extending below yesterday’s projected 1.4070 area before the anticipated rebound developed. The bearish count remains active following A’s labelled completion at 1.42999. The updated path allows a corrective recovery toward approximately 1.4135, followed by renewed weakness toward 1.4100. This rebound remains prospective, with no completed corrective structure labelled.
- Trend: Bearish; a corrective rebound is anticipated.
- Trading Range: No established sideways range.
- Wave Structure: A completed after triangle iv and wave v; the subsequent decline remains unlabelled.
- Support: The latest low around 1.4050.
- Resistance: Approximately 1.4135–1.4140, then 1.42999.
Is USD/CAD going up or down?
The broader bias remains bearish, although a rebound may interrupt the decline. A fresh low would extend selling pressure; exceeding 1.42999 would challenge A’s proposed completion.