USD/CAD 4H Chart: Channel Up

After a sharp growth at the end of the last week, the Buck has been cooling down on Monday after meeting the October 27 high. Despite bullish signals from four-hour studies, we expect USD/CAD to face some difficulties in the next 24 hours. At first, the monthly R1 at 1.3332 should be penetrated. This event can boost sentiment among bulls who will send the pair up to 1.3450 this week. Failure at the mentioned monthly resistance should trigger losses down to 200-period SMA at 1.3136, where the cross will approach other crucial supports including the pattern's lower trend-line. Nonetheless, SWFX market sentiment is completely neutral, meaning neither bullish nor bearish scenario is supported by traders.