USD/CAD risks falling back to Wednesday’s low of 1.3327. Wednesday’s doji candle is indicative of bull fatigue. USD/CAD is mildly bid in Asia and looking to cross above the psychological hurdle of 1.34. A breakout, however, could be short-lived, as Wednesday’s doji candle is indicating bull fatigue. USD/CAD produced a doji candle on Wednesday, which occurs when both bulls and the bears struggle to lead the price action, resulting in a two-way business and a flat close. It is widely considered a sign of indecision in the market place. However, in USD/CAD’s case, the candle mainly represents buyer exhaustion. After all, the bulls failed to produce a strong green candle by capitalizing on Bank of Canada’s 50 basis point rate cut. Alongside that, the 14-day relative strength index has diverged in favor of the bears. Additionally, a bearish reversal doji pattern, as represented by last Friday’s doji and Monday’s big drop, is still valid. So, the odds appear stacked in favor of a downward move. The pair could challenge Wednesday’s low of 1.3327. Acceptance under that level would expose the daily chart ascending trendline support, currently at 1.3275. On the higher side, a convincing close above Wednesday’shigh of 1.3431 is needed to put the bulls in a commanding position. Daily 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 USD/CNH recovers from six-week low amid recovery in trade sentiment FX Street 3 years USD/CAD risks falling back to Wednesday's low of 1.3327. Wednesday's doji candle is indicative of bull fatigue. USD/CAD is mildly bid in Asia and looking to cross above the psychological hurdle of 1.34. A breakout, however, could be short-lived, as Wednesday's doji candle is indicating bull fatigue. USD/CAD produced a doji candle on Wednesday, which occurs when both bulls and the bears struggle to lead the price action, resulting in a two-way business and a flat close. It is widely considered a sign of indecision in the market place. However, in USD/CAD's case, the candle mainly represents buyer exhaustion. After all,… 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.