The USDCAD pair managed to achieve our first waited negative target at 1.3445 and surpassed it to confirm the continuation of the bearish trend domination on the intraday basis, and the way is open to achieve our next target at 1.3350.
The negative effect of the double top pattern supports the continuation of the expected bearish bias, and breaking the last level will extend the bearish wave to reach 1.3280 followed by 1.3205 areas on the near-term basis, while the bearish trend will remain valid unless breaching 1.3500 and holding above it.
The expected trading range for today is between 1.3350 support and 1.3490 resistance.
The expected trend for today: Bearish
Origin: Economies
