The USDCAD pair shows some slight bullish bias to move above 1.2100 barrier, noticing that stochastic lost its positive momentum and shows clear overbought signals, while the EMA50 forms negative pressure against the intraday and short term trading.
Therefore, the bearish trend will remain dominant in the upcoming sessions, organized inside the bearish channel that appears on chart, waiting to target 1.1900 level as a next main station, noting that breaching 1.2220 will push the price to achieve more intraday gains to test 1.2360 areas initially before any new attempt to decline.
Expected trading range for today is between 1.2020 support and 1.2220 resistance.
Expected trend for today: Bearish
Origin: Economies
