The USDCAD pair managed to reach our waited target at 1.3500, showing sideways trades around this level, affected by the strength of this support, and it might be forced for some temporary rise before resuming the negative trades again.
The bearish channel supports the chances of achieving more decline in the upcoming period, noting that the next negative targets reach 1.3420 followed by 1.3350, noting that the consolidation of 1.3500 level might push the price to achieve intraday gains that target testing 1.3590 areas before any new attempt to decline.
The expected trading range for today is between 1.3440 support and 1.3570 resistance.
The expected trend for today: Bearish
Origin: Economies
