USD/CAD is currently trading near the lower boundary of a well-defined descending channel. The price has shown signs of holding near 1.35660 support, which may lead to a short-term rebound.
If momentum builds, the first resistance to watch is 1.36083, followed by 1.36185. However, a confirmed break below 1.35660 would invalidate the bullish scenario and open room for further downside.
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