The USDCAD pair settles around the minor bearish channel’s resistance, noticing that the EAM50 meets this resistance to add more strength to it, which keeps the bearish trend scenario valid for the upcoming period, waiting to test 1.2413 level initially.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that the continuation of the expected decline for today depends on holding below 1.2520.
Expected trading range for today is between 1.2400 support and 1.2560 resistance.
Expected trend for today: Bearish
Origin: Economies
