The USDCAD pair couldn’t manage to surpass 1.2950 level, to show some bearish bias and head to start intraday bearish correction, as we expect to target 1.2885 followed by 1.2840 levels as initial negative stations.
Therefore, the bearish trend will be expected for today, noting that breaking the last level will press on the price to visit 1.2725 areas on the near term basis, while breaching 1.2950 represents the key to stop the current correctional bearish pressure and resume the main bullish track again.
The expected trading range for today is between 1.2840 support and 1.2970 resistance.
The expected trend for today: Bearish
Origin: Economies
