The USDCAD pair traded with clear negativity yesterday and begins today with more decline to test the key support 1.2725, which urges caution from the upcoming trading, as breaking this support will stop the positive scenario and press on the price to turn to decline.
Therefore, we prefer to stay aside now until the price confirms its situation according to the mentioned level, noting that breaking it will push the price to visit 1.2590 as a first negative target, while consolidating above it will lead the price to resume the bullish track that its next main target located at 1.2950.
The expected trading range for today is between 1.2660 support and 1.2800 resistance.
The expected trend for today: Neutral
Origin: Economies
