The USDCAD pair couldn’t manage to hold for long time above 1.3680, to rebound bearishly and head towards visiting the bullish channel’s support line around 1.3580 initially, noting that breaking this level will extend the bearish wave to reach 1.3500 areas on the near-term basis.
Therefore, we expect to witness more decline in the upcoming sessions, and breaking 1.3615 will reinforce the negative overview, noting that breaching 1.3680 will stop the negative scenario and lead the price to resume the main bullish track again.
The expected trading range for today is between 1.3550 support and 1.3680 resistance.
The expected trend for today: Bearish
Origin: Economies
