USDCAD clearing support of sideways range!
The USDCAD has been locked in a sideways range over short-term basis between 1.2560-resistance- and 1.2365-support- as seen on the provided four-hour chart.
Breaching through the lower line of the sideways range is a bearish technical catalyst that signals potential downside movements over upcoming sessions.
Assessing indicators, we see some kind of trend weakness on Bollinger bands, Vortex and momentum weakness on RSI14.
Shorts are preferable for USDCAD, but stability below 1.2365 is required; whilst targets reside in the 1.2165 regions as far as 1.2440 protects this scenario.