• USD/CAD bears on top below critical resistance.
• The bulls-eye a 50% mean reversion into the Fed. 

USD/CAD is still under pressure on the front side of the bearish trendline as a quiet Asian session leaves the day ahead for where the action is bound to lie. The technicals are well entrenched for a breakout to the downside if the market gets what it's looking for from the meeting. 

The following illustrates a bearish outlook for the short term to 1.3150 based on the daily and 1-hour charts: 

USD/CAD daily charts

Zoomed in ...

With the breakout failure, the bears remain in control. 

USD/CAD H1 chart

The bulls could be seeking a move to test the commitments of the bears again following the failed breakout with the 50% mean reversion resistance eyed as the above chart illustrates.