The USDCAD pair provides more positive trades to attempt to breach 1.2500 level, which urges caution from the upcoming trading, as confirming the stability above this level will lead the price to regain the bullish trend again and stop the bearish correction that dominates the recent trades.
Stochastic shows clear negative signals, while the EMA50 forms continuous negative pressure against the price, which encourages us to suggest the bearish bias for today and resume the decline towards 1.2407 as a first target, noting that breaching 1.2520 will lead the price to achieve more gains and visit 1.2615 initially.
The expected trading range for today is between 1.2440 support and 1.2570 resistance.
The expected trend for today: Bearish
Origin: Economies
