USDCAD,H4
SHORT TERM TECHNICAL ANALYSIS

The pair is now reacting in a strong monthly and weekly support zone but the down side pressure is still strong. The 4-hour chart is showing signs of exhaustion although there is no major trend reversal signals on the larger time frames. A close of the 4-hour candle above the blue trendline marked K   can land the price in the resistance zone around 1.2851 marked red horizontal line T. Close below support zone marked S around 1.2585 disqualifies the setup and may lead to the continuation of he downtrend.