USD/CAD Technical Analysis

USD/CAD is down trending
The price broke below the consolidation zone
Multiple signals for a short move
D L5 camarilla level is the first target.

H1 CHART USD/CAD

Descending trend line
Lower lows in the chart
A Lower high
The zonal breakout

The price is currently breaking below the zone. 1.2545 was the breakout point just close to bearish doji candlestick. A rejection from the 1.2545-2556 zone happened after a gravestone doji pattern.The first target is the D L5 camarilla level 1.2494 followed by 1.2440 which is the Weekly L5 level. Today it's the US NFP day but at the same time Canadian data will be released. Unemployment Rate and Employment Rate goes the same time as the NFP so scalping is possible after the reports. I do expect a drop but the final outcome is after the news.