The USDCAD pair broke the bullish channel’s support line clearly and settled below it, which supports the continuation of the expected bearish rend scenario efficiently in the upcoming period, and the way is open to achieve our waited target at 1.3500.
The EMA50 forms good negative pressure that supports the chances of continuing the bearish wave and surpass the mentioned level to achieve additional negative targets that reach 1.3425, taking into consideration that the continuation of the bearish wave depends on the price stability below 1.3625 and the most important below 1.3680.
The expected trading range for today is between 1.3480 support and 1.3625 resistance.
The expected trend for today: Bearish
Origin: Economies
