USD/CAD: The Waterfall Continues! Next Stop: 1.3640 Macro FloorUSD/CADOANDA:USDCADLingridThe Macro View: A Perfect Storm 🛰️ As we head into late April 2026, the fundamental landscape has shifted dramatically. With the US-Iran conflict driving oil prices toward the $130-$150 range, the Canadian Dollar is benefiting from a significant "commodity tailwind." While the Bank of Canada holds steady at 2.25% ahead of their April 29 meeting, the market is cashing in on USD protectionism fears, leading to a sharp repricing of this pair. The Setup: Structural Breakdown 🧩 The 6H chart provides a masterclass in trend reversal: The Wedge Breakdown: After a prolonged rally, the Ascending Wedge (a bearish reversal pattern) broke to the downside. The Perfect Retest: Notice the "Retest" label—price returned to the broken wedge support (near 1.3880) to confirm it as new resistance before the current "waterfall" began. The Horizontal Breach: Price has now sliced through the major horizontal Support Line at 1.3750. This level, which held the floor for most of March, has officially flipped into a ceiling. The Roadmap: Destination 1.3640 🎯 Following the purple zig-zag projection, the path of least resistance remains sharply lower: Immediate Target: The lower boundary of the Macro Broadening Formation sitting near 1.3630 – 1.3650. The Bounce: Expect a "buy-the-dip" reaction at that macro floor, potentially leading to a relief rally to retest the 1.3750 horizontal level from below. Invalidation: A sustained daily close back above 1.3800 would suggest the current breakdown is a "trap" and force a re-evaluation.