The USD/CAD has formed a cup and handle formation, and the price is consolidating between Daily camarilla levels. Because the handle in this pattern formation usually has a downward slope, we might see a break below 1.2830 towards 1.2816 and 1.2779. However h1 momentum or 4h close above 1.2864 could target 1.2892, 1.2911 and 1.2939. Watch for a handle break and continuation towards mentioned targets.

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone).