USDCAD has shown strong respect for the key 61.8% Fibonacci retracement level, aligning perfectly with a major resistance zone. The rejection from this level signals a potential completion of the corrective pullback, setting the stage for a bearish continuation towards the lower support, likely completing wave C of the corrective structure. Momentum indicators and price action confirm bearish sentiment, with increasing selling pressure reinforcing the downside bias. As long as the pair remains below the resistance zone, the probability of further decline remains high, making this a strategic short opportunity with a well-defined risk-to-reward setup.