The USDCAD pair made new test to the bearish channel’s resistance and bounced bearishly from there, to keep the bearish trend scenario valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, waiting to visit 1.3112 followed by 1.3035 levels as next main stations.
Note that breaching 1.3225 will stop the suggested decline and leads the price to achieve intraday gains that target testing 1.3362 areas before any new negative attempt.
The expected trading range for today is between 1.3080 support and 1.3240 resistance.
The expected trend for today: Bearish
Origin: Economies
