The USDCAD pair shows more decline, organized inside the minor bearish channel that appears on chart, to continue approaching from our waited target at 1.2459, to support the expectations of continuing the bearish trend on the intraday and short term basis, being aware that it is important to monitor the price behavior when reaching the mentioned level, as breaking it will extend the pair’s losses to reach 1.2280 as a next main station.
The EMA50 keeps supporting the expected bearish wave, noting that holding below 1.2645 represents the first condition to continue the suggested decline.
Expected trading range for today is between 1.2400 support and 1.2570 resistance.
Expected trend for today: Bearish
Origin: Economies
