USDCAD: Buyers Still Hold the Upper HandUSD/CADOANDA:USDCADParadise_NoirOn the H4 timeframe, USDCAD maintains a fairly clear bullish structure, with the price continuously creating higher lows and moving steadily within an upward channel. After the previous strong rally, the price is undergoing a slight correction around the short-term resistance area, but there are no signs of breaking the bullish structure. The 1.3920 area is currently the nearest support to watch. If the price holds this area and a positive reaction candle appears, buyers still have a chance to push USDCAD back to the 1.3990 area. The fact that the price remains above the Ichimoku cloud also indicates that the main trend is still bullish. On the macro level, the USD is still supported by expectations that the Fed will maintain a hawkish stance after strong US employment data. Meanwhile, CAD is constrained by cooling oil prices and the BoC's not-yet-hawkish outlook. Good Canadian employment data may slow the upward momentum, but it is not enough to reverse the current structure. Reference strategy: BUY around 1.3920 – 1.3930 if there is a confirmation candle. SL: below 1.3900 TP: 1.3990