The USDCAD pair attempted to break the bullish channel’s support line and returned to consolidate above it, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend, through breaking 1.3480 support or breaching 1.3510 resistance.
Note that breaching the mentioned resistance will push the price to resume the main bullish track and achieve gains that start by testing 1.3600 barrier, while breaking the support represents the key to start bearish correction for the rise that start from 1.3178 areas and achieve negative targets that reach 1.3430 followed by 1.3380.
The expected trading range for today is between 1.3410 support and 1.3560 resistance.
The expected trend for today: Neutral
Origin: Economies
