USDCAD, 4H timeframe .

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USDCAD, 4H timeframe

Current Price Action

Price is trading around 1.3737.

There was a break below the support zone at 1.3775 (highlighted in blue).

The Ichimoku cloud and moving averages confirm bearish momentum.

The green arrow drawn indicates a projected move lower.


Target Zone

The chart marks a target point around 1.3560 (1.35609 to be precise).

This zone also aligns with previous structure support (marked by the thick horizontal dark area).


Summary

✅ Immediate downside target: 1.3560
⚠ If price fails to hold below 1.3775 and pulls back above the cloud, then the bearish scenario weakens, and a retest toward 1.3825 becomes possible.

👉 So my target is 1.3560, as long as bearish momentum continues and price stays under 1.3775.

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