USDCAD: Bearish channel remains in control; target 1.4020USD/CADOANDA:USDCADParadise_NoirUSDCAD maintains a clear bearish structure on the H4 timeframe, with the price consistently forming lower highs and moving steadily within a downward-sloping channel. A recent strong sell-off pushed the price toward the channel's lower boundary, indicating that sellers remain in control. Currently, the price may experience a technical rebound from the lows. However, the 1.4110–1.4120 zone represents a confluence of the bearish trendline, horizontal resistance, and the Ichimoku Cloud; thus, any bounce is likely just a retest before selling pressure resumes. The fundamental backdrop also weighs on USDCAD, as the USD faces pressure following cooling US inflation data, while oil prices remain supportive of the CAD. This reinforces the likelihood that rallies in the pair will be met with selling. If the price fails to break above 1.4120, the downtrend could extend toward the channel's lower boundary near 1.4020. Suggested strategy: Look to SELL on a rebound to the 1.4100–1.4120 zone if a rejection signal appears. Target: 1.4020; the bearish scenario is invalidated if the price closes clearly above the bearish channel on the H4 timeframe.