The USD/CAD currency pair has gained ground for the second consecutive day, currently trading around 1.3890 during Monday’s European session. Despite this upward movement, technical analysis reveals a prevailing bearish trend, with the pair continuing its descent within a clearly defined channel. As it hovers near the nine-day EMA and 1.3900 resistance level, traders remain cautious, navigating the potential for rebounds or further declines. Monitoring price actions in this evolving context will be crucial for understanding future directional movements in this currency pair.