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The USD/CAD pair is experiencing a sharp decline within a strong downward trend after breaking the key support level at 1.3900.
Technical Outlook – 4-Hour Timeframe:
The simple moving averages continue to apply downward pressure from above, with no dynamic resistance in place, while the pair moves along a steep descending trendline.
Likely Scenario:
If the price remains below the previously broken support—now acting as resistance at 1.3900—the outlook favors further declines. A confirmed break below 1.3810 would open the door for a move toward the initial support at 1.3770, potentially extending to 1.3720.
Conversely, if the price stabilizes above the psychological barrier of 1.3910, the downward trend could pause temporarily, allowing for a recovery attempt targeting 1.4010.
Caution: The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Risk note
Headline risk is elevated. Use prudent sizing and firm stops; reassess quickly if these trigger levels give way.
| S1: 1.3770 | R1: 1.3910 |
| S2: 1.3720 | R2: 1.4010 |
| S3: 1.3625 | R3: 1.4055 |
