USD/CAD 4h Chart: Channel Down

The Greenback recently formed a descending channel against the Canadian Dollar, as the Loonie began to score gains all across the world against most currencies. However, the pair is trading simultaneously in a long term ascending channel pattern, which indicates that the decline of the Buck against the Loonie might be at its end. However, the lower trend line of the dominant pattern is a mysterious thing. If one takes the low points of the candles to draw the line, there is still room for a decline of the currency pair. Although, if the closing prices of the four hour candles are used, one can assume that the decline of the pair has ended.