The current price: 1.3420
Key point: 1.3450
Our preferred direction: short positions below 1.3450, targeting 1.3350 as a first target, then 1.3320 as a second target.
Alternative scenario: stop the loss and change the direction by breaking 1.3450, targeting 1.3500.
Technical comment
The Canadian dollar pair, on the daily timeframe, reached the resistance levels 1.3450-1.3475, with the upper border of the bearish channel from the top of last March, with the presence of a harmonic CYPHER pattern, so that the price is expected to fall to the next support levels at 1.3355-1.3320
