The USDCAD pair managed to touch our first target at 1.3600 and bounced downwards temporarily to test 1.3550 barrier, noticing that the EMA50 provides the positive support to the price and carries it from below, while stochastic gains the positive momentum clearly and approaches to overlap positively now.
Therefore, we believe that the chances valid to resume the expected bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, noting that our next target extends to 1.3665, taking into consideration that breaking 1.3510 will stop the bullish wave and push the price to start bearish correction on the intraday basis.
The expected trading range for today is between 1.3500 support and 1.3640 resistance.
The expected trend for today: Bullish
Origin: Economies
