The USDCAD pair provided additional negative trades yesterday to achieve our first negative target at 1.2955 and attempted to break it, noticing that stochastic loses its positive momentum clearly, while the price settles below the bullish channel’s support line that appears on the chart.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which its next target located at 1.2870, reminding you that it is important to hold below 1.3055 to continue the expected decline.
The expected trading range for today is between 1.2890 support and 1.3040 resistance.
The expected trend for today: Bearish
Origin: Economies
