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Figure Heloc 
The USDCAD has continued it’s move to the downside (see earlier post here), and in the process moved below the 1.4000 level, the 61.8% retracement level I.39837, and into a swing area between 1.3968 and 1.3975 where buyers have now stepped in. Is the low in?In the video above I take a look at the technicals driving this currency pair and what would now turned the bias back around?
This article was written by Greg Michalowski at investinglive.com.
đź’ˇ DMK Insight
The USDCAD’s drop below 1.4000 signals potential bearish momentum, but buyers are stepping in at key levels. With the pair now trading in a swing area between 1.3968 and 1.3975, traders should watch for a potential reversal. The 61.8% retracement level at 1.39837 is crucial; if it holds, we might see a bounce back. However, if sellers regain control and push the price lower, the next support could be tested, leading to further downside. Keep an eye on the daily chart for confirmation of any bullish reversal patterns or continued bearish pressure. The market’s reaction to this zone will be telling, especially with broader economic indicators influencing CAD strength against the USD. If the low is confirmed, it could set up a short-term buying opportunity, but risk management is key given the volatility around these levels.
đź“® Takeaway
Watch the 1.39837 level closely; a bounce here could signal a reversal, while a break below 1.3968 may lead to further declines.
