The USDCAD pair opens today’s trading with bearish bias after testing the EMA50 in the previous sessions, which formed good resistance against the price, to keep the bearish trend scenario valid and active for the upcoming period, waiting to visit 1.2230 mainly.
On the other hand, we should note that breaching 1.2365 – 1.2385 levels will stop the expected decline and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 1.2260 support and 1.2400 resistance.
The expected trend for today: Bearish
Origin: Economies
