The USDCAD pair bounced upwards clearly to breach the intraday bearish channel’s resistance and begins to test the most important resistance at 1.3500, and by taking a deeper look at the chart, we find that the price completed forming double bottom pattern that we expect to push the price to surpass the mentioned resistance and open the way to return to the bullish track again, to head towards achieving positive targets that start at 1.3585 and extend to 1.3680.
Therefore, the bullish bias will be expected for today, noting that breaking 1.3460 will stop the positive scenario and push the price to turn to decline.
The expected trading range for today is between 1.3450 support and 1.3580 resistance.
The expected trend for today: Bullish
Origin: Economies
