The USDCAD pair’s rise stopped at the bullish channel’s resistance that appears on the chart, to rebound bearishly and heads towards expected test to the key support 1.3680, which makes us suggest witnessing more decline in the upcoming sessions.
The targeted level is important to determine the next destination, as breaking it will lead the price to suffer more losses and head towards 1.3560 areas as a next main station, while consolidating above it will push the price to attempt to build new bullish wave that its next main target reaches 1.3975.
Therefore, we expect the continuation of the bearish bias for today unless breaching 1.3770 and holding above it.
The expected trading range for today is between 1.3640 support and 1.3790 resistance.
The expected trend for today: Bearish
Origin: Economies
