The USDCAD pair declined sharply yesterday affected by the BOC decision to raise the interest rate, to succeed touching our first waited target at 1.2764 and break this level strongly to settle below it, opening the way to continue the bearish wave that its next main target located at 1.2459.
Therefore, the bearish trend will remain valid for the upcoming period, supported by the EMA50 that pushes negatively on the price, noting that breaching 1.2764 followed by 1.2825 levels will stop the suggested decline and push the price to test 1.2985 areas before any new attempt to decline.
Expected trading range for today is between 1.2620 support and 1.2825 resistance.
Expected trend for today: Bearish
Origin: Economies
