USDCAD Is Going Down! Short!

Please, check our technical outlook for USDCAD.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 1.356.

The above observations make me that the market will inevitably achieve 1.332 level.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

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