USDCAD Downside Potential

Hey Traders! 👋

For Day 25/100 of our challenge, we will look at USDCAD for downside potential this week.

Technicals:
- Downtrend = creating lower lows and lower highs
- Forming resistance below pivot level
- Weekly target at 1.33

Fundamentals:
- BoC surprise hike on back of positive domestic data
- Fed uncertainties as recent data are negative and Fedspeak leaning towards a pause this month.