The USDCAD pair provided positive trades yesterday but it faced solid resistance formed by the EMA50 at 1.3740, to decline and head towards potential test to the key support 1.3680, to facing contradiction between the technical factors that makes us continue with our neutrality until the price confirms breaching one of the mentioned levels followed by detecting the next targets clearly.
Breaking the mentioned support will put the price under negative pressure that its targets begin at 1.3620 and extend to 1.3500 after surpassing the previous level, while breaching the resistance will push the price to continue the main bullish trend and achieve positive targets that reach 1.3845 initially.
The expected trading range for today is between 1.3640 support and 1.3780 resistance.
The expected trend for today: Neutral
Origin: Economies
