The USDCAD pair rallied upwards yesterday to succeed touching our waited target at 1.3500, noticing that the price found solid resistance there to rebound downwards clearly, as it tests the minor support base 1.3400.
Stochastic gains the positive momentum on the intraday time frames, while the EMA50 continues to provide the positive support to the price.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, noting that breaching 1.3500 will open the way to extend the bullish wave towards 1.3595 followed by 1.3680 levels, while breaking 1.3350 represents negative factor that will push the price to turn to decline.
The expected trading range for today is between 1.3350 support and 1.3500 resistance.
The expected trend for today: Bullish
Origin: Economies
