USD/CAD pairUSD/CADOANDA:USDCADElroubyRegarding the USD/CAD pair, it’s clear from the overall market structure that the pair has been in a sharp downtrend recently — yet its corrections have been noticeably deep, which signals that the move is more corrective than impulsive. Secondly, the pair is currently sitting on a major support zone that has previously triggered strong bullish reactions, and once again it has failed to break below it. Thirdly, the formation of triangle pattern adds further confluence for a potential bullish breakout once price manages to break above the upper boundary.