The USDCAD pair bounced upwards strongly after the price found solid support formed by the EMA50 in the previous sessions, to resume the main bullish track and approach the previous recorded top at 1.2950, and we expect to surpass this level to open the way to test the bullish channel’s resistance line at 1.2985.
Therefore, the bullish trend will be expected on the intraday and short term basis, noting that failing to surpass the mentioned top will press on the price to decline again and head to test 1.2725 areas mainly before any new attempt to rise.
The expected trading range for today is between 1.2820 support and 1.2980 resistance.
The expected trend for today: Bullish
Origin: Economies
