The USDCAD pair resumes its negative trading calmly organized inside minor bearish channel that appears on chart, falling under continuous negative pressure by the EMA50, reinforcing the expectations of continuing the bearish trend in the upcoming sessions.
Therefore, we believe that the way is open to continue the decline to head towards the previously recorded low at 1.2459, noting that breaching 1.2740 will stop the suggested decline and lead the price to start recovery attempts that target 1.2860 and might extend to 1.2985 areas before any new attempt to decline.
Expected trading range for today is between 1.2500 support and 1.2640 resistance.
Expected trend for today: Bearish
Origin: Economies
