The USDCAD pair provided positive trades yesterday to move above 1.2870, but we notice that the EMA50 formed good resistance against the price, to decline again and settles below the mentioned level now, and stochastic begins to overlap negatively and motivates the price to provide more negative trades in the upcoming sessions, waiting to head towards 1.2790 as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that failing to consolidate below 1.2870 will lead the price to achieve new gains and test 1.2950 areas before any new attempt to decline.
The expected trading range for today is between 1.2780 support and 1.2920 resistance.
The expected trend for today: Bearish
Origin: Economies
