USDCAD, H4: USDCAD remain traded in a sideway channel following recent retracement from the resistance level 1.2125. However, MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its retracement towards the support level 1.2035.
Resistance level: 1.2125, 1.2175
Support level: 1.2035, 1.1970