The USDCAD pair shows sideways trading since yesterday, settling near 1.2800 level, noticing that stochastic loses its positive momentum gradually to approach the overbought areas, waiting to motivate the price to resume the expected bearish trend on the intraday and short term basis, affected by the triple top pattern that was completed previously.
The negative targets begin at 1.2717 and extend further towards 1.2463 after breaking the previous level, reminding you that it is important to hold below 1.2923 to continue the suggested decline.
Expected trading range for today is between 1.2720 support and 1.2880 resistance.
Expected trend for today: Bearish
Origin: Economies
