The USDCAD pair attempted to break 1.2480 level but it couldn’t manage to hold below it, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the negative attempts, reminding you that our next main target reaches 1.2370.
Therefore, the bearish trend scenario will remain valid and suggested for the upcoming period unless breaching 1.2590 and holding above it.
The expected trading range for today is between 1.2420 support and 1.2550 resistance.
The expected trend for today: Bearish
Origin: Economies
