The USDCAD pair couldn’t manage to hold for long time above 1.3500 level, to break it and settles below it, to hint heading to decline again, but we notice that the EMA50 forms good support against the price, accompanied by witnessing clear positive signals by stochastic, which might motivate the price to recover again.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaching 1.3500 again will reactivate the positive scenario that its next targets located at 1.3595 followed by 1.3680, while breaking 1.3455 support will push the price to decline towards 1.3350 areas mainly.
The expected trading range for today is between 1.3400 support and 1.3550 resistance.
The expected trend for today: Neutral
Origin: Economies
