The USDCAD pair managed to touch our waited target at 1.3362, facing solid resistance there to rebound bearishly and heads towards potential test to the support base formed at 1.3240 after breaching it previously, noticing that stochastic got rid of its negativity to approach the oversold areas, which supports the chances of bouncing bullishly to resume the expected bullish trend for the upcoming period.
Therefore, we will continue to suggest the bullish trend on the intraday basis, noting that breaching 1.3362 is required to confirm extending the bullish wave towards 1.3500 followed by 1.3612, while breaking 1.3240 represents negative factor that will press on the price to return to the main bearish track again.
The expected trading range for today is between 1.3240 support and 1.3390 resistance.
The expected trend for today: Bullish
Origin: Economies
