The USDCAD pair broke 1.3450 level clearly and settled above it, noticing that the price completed forming double top pattern as appears on the chart, which supports the chances of starting bearish wave on the intraday basis, its targets begin at 1.3350 and extend to 1.3300 that represents the full target of the mentioned pattern.
Therefore, we expect to witness more decline in the upcoming sessions supported by the negative pressure formed by the EMA50, taking into consideration that breaching 1.3400 will cancel the negative pattern and lead the price to recover and test 1.3500 initially.
The expected trading range for today is between 1.3330 support and 1.3460 resistance.
The expected trend for today: Bearish
Origin: Economies
