The USDCAD pair faced strong negative pressure yesterday to test 1.2700 barrier, but it bounced upwards strongly to settle above 1.2775, which keeps the bullish trend scenario valid for the upcoming period, supported by the EMA50 that protects the price from suffering more losses, waiting to head towards 1.2950 as a next main target.
Note that breaking 1.2775 followed by 1.2720 levels will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1.2740 support and 1.2870 resistance.
The expected trend for today: Bullish
Origin: Economies
