The USDCAD currency pair has been in a downward trend since the beginning of March. Looking at the chart in terms of the Overbalance methodology, two geometries should be marked. The first - larger, marked in red, and the second marked in green. During today's session, the rate bounced off the smaller geometry, which is why a move towards the last minimum is not ruled out. However, if the aforementioned geometry were to be negated, the rate could even move towards 1.4100, where the upper limit of the larger geometry falls. According to the Overbalance methodology, only the negation of the larger system could change the trend to an upward one, but for now, according to the methodology, the sentiment is downward.
USDCAD interval H4. Source: xStation5
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