The USDCAD pair is facing additional negative pressure by today’s open to break 1.3500 level and reach the bullish channel’s support line, and the price needs to consolidate above this support -located now at 1.3475- to keep the main bullish trend valid, noting that the next target of the bullish wave is located at 1.3600.
On the other hand, we should note that the continuation of the decline and breaking 1.3470 will push the price to start bearish correction that its targets begin by testing 1.3430.
The expected trading range for today is between 1.3430 support and 1.3560 resistance.
The expected trend for today: Bullish
Origin: Economies
