The USDCAD pair declined clearly yesterday to reach few pips away from our waited target at 1.3350, noticing that the price bounced bullishly to surpass 1.3420 level, but it faces solid resistance formed by the EMA50 at 1.3440, to push the price to decline by today’s open and head to resume the bearish wave again.
Therefore, we expect to witness negative trades in the upcoming sessions supported stochastic loss to the positive momentum, noting that the first target is represented by testing 1.3350 level, while breaching 1.3440 will lead the price to achieve additional gains that reach 1.3500 mainly.
The expected trading range for today is between 1.3350 support and 1.3470 resistance.
The expected trend for today: Bearish
Origin: Economies
