The USDCAD pair managed to achieve our waited target at 1.2495 and broke it to close the daily candlestick below it, which supports the chances of continuing the bearish trend on the intraday and short term basis, paving the way to head towards 1.2365 as a next negative target.
The EMA50 supports the expected decline, noting that breaching 1.2495 will lead the price to start recovery attempts that target testing 1.2590 areas initially.
The expected trading range for today is between 1.2230 support and 1.2520 resistance.
The expected trend for today: Bearish
Origin: Economies
