On the M5 chart of USDCAD we see a clear lower‑high structure that has been eroding since the 1.416 peak earlier in the window. The most recent five‑minute candles have stabilized around the 1.4040‑1.4050 zone, with volume picking up after a thin‑traded dip near 1.4033, indicating renewed buying interest at the lower edge of the range. A modest bullish engulfing pattern formed around 1.4042‑1.4043, reinforcing the notion of a nascent support level. Given that the price is testing this floor, a breakout to the upside is plausible, targeting the prior resistance cluster near 1.4055‑1.4060. The proposed entry below the current…

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