The USDCAD price declined clearly yesterday to reach the waited correctional target at 1.3445, and it might witness some temporary sideways fluctuation before resuming the negative trades and head to achieve more bearish correction in the upcoming sessions, noting that breaking the mentioned level will push the price towards 1.3392 as a next negative target.
Holding below 1.3505 is important to the continuation of the expected decline, as breaching it will stop the current negative pressure and lead the price to return to the main bullish track again.
The expected trading range for today is between 1.3365 support and 1.3505 resistance.
Trend forecast: Bearish
Origin: Economies
