USD/CAD faced rejection near 1.4140 early Monday and is currently sitting in the red around 1.4090. A pennant breakdown seen in the 4H chart suggests scope for deeper losses. USD/CAD is losing altitude in Asia, having suffered a pennant breakdown on Monday. The pair is currently trading in the red near 1.4090, having faced rejection above 1.4140 early Tuesday. he currency pair dived out of a contracting triangle or a pennant pattern almost 24 hours ago, signaling a continuation of the pullback from the March 23 high of 1.4547 and opening the doors for a re-test of 1.3921 (March 27 low). Monday’s bearish outside bar candle also indicates the path of least resistance is to the downside. A 4-hour close above 1.4250 is needed to revive the bullish view. Multiple 4-hour candles have failed to establish a foothold above that level over the last seven days. 4-hour chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD Price Analysis: Inside short-term falling channel below 200-bar SMA FX Street 2 years USD/CAD faced rejection near 1.4140 early Monday and is currently sitting in the red around 1.4090. A pennant breakdown seen in the 4H chart suggests scope for deeper losses. USD/CAD is losing altitude in Asia, having suffered a pennant breakdown on Monday. The pair is currently trading in the red near 1.4090, having faced rejection above 1.4140 early Tuesday. he currency pair dived out of a contracting triangle or a pennant pattern almost 24 hours ago, signaling a continuation of the pullback from the March 23 high of 1.4547 and opening the doors for a re-test of 1.3921 (March 27… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
