The USDCAD pair is retesting the broken neckline of the double top pattern, and the price needs to consolidate below this level that forms key resistance at 1.3420 to keep the negative effect of this pattern active, waiting to visit 1.3350 as a first negative station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the EMA50, noting that breaching 1.3420 will push the price to achieve intraday gains and head to visit 1.3500 before determining the next destination clearly.
The expected trading range for today is between 1.3350 support and 1.3470 resistance.
The expected trend for today: Bearish
Origin: Economies
