USDCAD Selling not over yet.

Last time we looked at the USDCAD pair (March 21, see chart below), we got the most optimal sell entry that easily hit our 1.4000 Target:

As the price broke below its 1D MA200 (orange trend-line) having made a significant correction since the February 03 High, we believe there is more selling to be made at least on the short-term.

That is because the Higher Lows Zone that started on the May 2021 market bottom, hasn't yet been tested and since December 2023, the market always broke inside it before rebounding.

As a result, we expect a new rejection on the 1D MA200, delivering a 1.38200 Target.

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