The USDCAD pair continued to rise to breach 1.3500 and settles above it, to hint the attempt to build bullish wave and recover on the intraday basis, but we notice that the EMA50 forms continuous negative pressure against the price, besides witnessing negative signals through stochastic, which might press on the price to decline again.
Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaking 1.3500 followed by 1.3480 levels will reactivate the main negative scenario that its next target located at 1.3350, while breaching 1.3540 represents the key to continue the bullish bias and achieve additional gains that reach 1.3600 followed by 1.3680.
The expected trading range for today is between 1.3430 support and 1.3560 resistance.
The expected trend for today: Neutral
Origin: Economies
