The USD/CAD pair is displaying back and forth moves in a narrow range of 1.2820-1.2846 in the Asian session followed by a sheer downside move. The greenback bulls have faced intense selling pressure after the asset failed to sustain above the psychological support of 1.3000. A breakdown of the Rising Channel chart formation on a four-hour scale has shifted the asset into a negative trajectory. The asset has experienced a vertical downside move after slipping below Friday’s low at 1.2893. Usually, a steep bearish move is followed by a pullback, which is considered a selling opportunity for the market participants. The ... (full story)