The USDCAD pair settles below 1.2900 barrier, noticing that the price moves inside bearish channel that carries the price from 1.3793 areas, which reinforces the chances of continuing the bearish trend on the short term and medium term basis, as we believe that the way is open to continue the bearish wave to target 1.2764 followed by 1.2459 levels as next main stations.
Therefore, the bearish trend will remain dominant in the upcoming period conditioned by holding below 1.2985, as breaching this level will push the price to achieve gains that start at 1.3160 and extend to 1.3310.
Expected trading range for today is between 1.2764 support and 1.2950 resistance.
Expected trend for today: Bearish
Origin: Economies
