We can see bearish divergence building on the USDCAD pair from Friday's push higher, only to be sold off intraday today.

This trade is looking for the potential of a pull back down to the recent support level around 1.2643 but given the sideways nature of the current pricing, it could fall below that and ultimately back below 1.2600.

There is a lot of support around the 1.2500 level, so a bigger potential move could see it hit those levels. Trading involves risk.

USDCAD bearish divergence heading back below support?

Apr 26 2022

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