The USDCAD pair broke 1.3205 level clearly and rallied bearishly to approach our waited target at 1.3140, and we expect the continuation of the bearish bias within the bearish channel that appears on the chart to head towards achieving additional negative targets that reach 1.3040.
Therefore, we expect to witness more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 1.3205 will stop the expected decline and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 1.3070 support and 1.3210 resistance.
The expected trend for today: Bearish
Origin: Economies
