The USDCAD pair retests 1.2923 level, noticing that stochastic loses the positive momentum gradually to approach the overbought areas, while the EMA50 forms continuous negative pressure against the price.
Therefore, these factors support the continuation of the negative effect of the double top pattern, waiting to head towards 1.2717 as a next main station, reminding you that breaching 1.2923 will lead the price to rise and visit 1.3000 level initially.
Expected trading range for today is between 1.2830 support and 1.3000 resistance.
Expected trend for today: Bearish
Origin: Economies
