The USDCAD pair returns to rise and test the bearish channel’s resistance that appears on the chart, which declines now to 1.3110, accompanied by stochastic loss to the positive momentum and reaching the overbought areas, waiting to motivate the price to resume the expected bearish trend on the intraday and short term basis, which its next main target located at 1.2960.
Breaking 1.3060 will ease the mission of achieving the above mentioned target, while the continuation of the bearish wave requires the stability of the daily close below 1.3110.
The expected trading range for today is between 1.3030 support and 1.3160 resistance.
The expected trend for today: Bearish
Origin: Economies
