The USDCAD pair’s recent trades are confined within bullish pennant pattern, thus, breaching 1.3830 will activate the positive effect of this pattern and push the price to resume the main bullish wave, to open the way to rally towards our next main target at 1.3900.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50, taking into consideration that the continuation of the bullish wave requires holding above 1.3700.
The expected trading range for today is between 1.3760 support and 1.3900 resistance.
The expected trend for today: Bullish
Origin: Economies
