The USDCAD pair resumed its negative trading heading towards our main waited target at 1.2459, as the price attempted to break 1.2500 barrier but it trades above it now, reinforcing the chances of continuing the bearish bias in the upcoming sessions, supported by the negative pressure provided by the EMA50.
Therefore, the bearish trend will remain suggested on the intraday and short term basis, noting that breaching 1.2670 will stop the suggested decline and lead the price to start recovery attempts that target 1.2880 areas before any new attempt to decline.
Expected trading range for today is between 1.2459 support and 1.2600 resistance.
Expected trend for today: Bearish
Origin: Economies
