USDCAD may change its local trend to a bearish one

USDCAD is at risk of a trend reversal due to the dollar forming a reversal phase after yesterday's news and rumors when someone came up with the idea that Trump had decided to change his hardline policies. After the rumors were refuted, the dollar headed down, pulling the forex with it.

Scenario: Consolidation of the price below a key level may influence further decline. A break of local support could trigger a strong fall to 1.4178