The USDCAD pair provided positive trades yesterday and attempts to return to the intraday bullish channel, but we notice that stochastic shows clear overbought signals now, which forms negative factor that we expect to press on the price to decline again, waiting to visit 1.2465 initially.
On the other hand, we should note that consolidating above 1.2570 will stop the negative scenario and push the price to rise again, to head towards testing 1.2650 initially.
The expected trading range for today is between 1.2500 support and 1.2650 resistance.
The expected trend for today: Bearish
Origin: Economies
