A Strong Opportunity to Buy the USD/CAD Pair on the Daily Timeframe

The USD/CAD pair is exhibiting a strong downward movement following a reversal from the supply (selling) zones on the daily timeframe—areas that were previously highlighted.

Expectations point to a potential continuation of the decline toward the demand (buying) zones identified on the daily timeframe, from which we may see a significant corrective rebound in the pair.

Expected Targets

Should the price test the daily demand zones—located near the 1.3818 level—a rebound is anticipated, targeting the 1.38700 and 1.39400 levels, respectively.

However, this bullish outlook would be invalidated if the price breaks through these demand zones and closes below them with a bearish daily candle.