USDCAD Will Go Down! Short!

Here is our detailed technical review for USDCAD.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is on a crucial zone of supply 1.349.

The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.332 level.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

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