USDCAD - Can price reject this CZ to head lower?

PAIR IN FOCUS: USDCAD
ACTION: SHORT
HORIZON: SHORT TO MEDIUM-TERM

Price was slightly ranging and broke upwards of the range. It is a retracement of the bear wave from previous week, and is now in the Critical Zone. This retracement also nicely coincides with a retest of the 0.618 Fibonacci retracement level. We could possibly see another bearish leg if price rejects this CZ. Watch for bearish price action before any entry.

The TP level and Stop Loss are indicated on the chart. Remember to manage your risk!

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