Bearish Sentiment for USDCAD 1.41406 is 61.8 Fibo Support level. next Support will be at 1.40106.
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The last retest is done today...It will shoot up very soon now...I hope you have entered at 1.40770. NEXT week Oil is expected to drop further hence CAD will become weak. That will boost the USDCAD into a huge buy.
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Bearish and Bullish Scenario on USDCAD
Bearish 1. Possible end of Oil war between Saudis and Russians. 2. Oil prices rise. 3. USD weakness
Bullish 1. Oil prices go further down. 2.USD strength.
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CAD strength scenario played in yesterday as OIL prices spiked to 24$. Hence USDCAD went bearish for a short while. But this is a short term sentiment traders. Since USD strength will soon kick in push USDCAD into another buy.