Price action on USD/CAD, a daily chart of which is shown, has continued its bearish path within the context of the clear downtrend that has prevailed in this currency pair since the fourth top around 1.3000 was hit in March. Within this overall downtrend, price has formed a short-term downtrend resistance line extending from the second test of the 1.1100 region back in early September. Price just reached and was rejected at this downtrend line last Friday with a pin bar / shooting star-shaped candle. For more technical analysis on this currency pair,
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