The USDCAD pair provided additional negative trades yesterday and approached 1.2000 barrier, but it rebounds bullishly to head towards potential test to the bearish channel’s resistance that appears on the chart, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum clearly.
Therefore, these factors encourage us to suggest the bearish trend for the upcoming period, which its next target located at 1.1900, while achieving it requires holding below 1.2115.
The expected trading range for today is between 1.2000 support and 1.2125 resistance.
The expected trend for today: Bearish
Origin: Economies
