The USD/CAD pair has retraced gains from the previous session, trading around 1.3810 early in the European session on Friday. Technical analysis reveals a potential bullish sentiment shift as the USD attempts to break above a descending channel pattern. Traders need to keep an eye on this pair as testing the 1.3800 support level may lead to significant movements depending on market reactions. Observing these trends closely could provide strategic insights for future trades in the USD/CAD pair.