The (USDCAD) has declined in its recent intraday trading after failing to break the key resistance level at 1.4275, which coincided with testing the resistance of the EMA50. This increased the selling pressure on the price. The decline came as negative signals emerged from the Relative Strength Index (RSI) after it reached excessively overbought levels earlier, supporting the idea of a temporary pullback to gain new momentum.

 

Despite the current decline, the pair is still moving within an upward corrective wave, enhancing the chances of resuming the upward movement if a key technical condition is achieved, which is breaking the 1.4275 resistance level.