The USDCAD pair couldn’t manage to hold for long time above 1.2590, to trade negatively and heads towards potential test to 1.2480 level, making the bearish bias suggested in the upcoming sessions, noting that the expected decline is temporarily, waiting for bullish rebound to resume the main bullish wave.
The EMA50 and stochastic support the chances of continuing the main bullish trend, noting that breaking 1.2480 will cause more decline to head towards 1.2365 as a next negative target.
The expected trading range for today is between 1.2470 support and 1.2610 resistance.
The expected trend for today: Bearish temporarily
Origin: Economies
