The USDCAD price couldn’t manage to surpass 1.3605$ level, to rebound downwards strongly and return to the correctional bearish track again, as it surpassed 1.3505$ level to confirm the continuation of the decline on the intraday basis, targeting 1.3445$ followed by 1.3392$ levels as next negative targets.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 1.3505$ will stop the current negative pressure and lead the price to recover again.
The expected trading range for today is between 1.3390$ support and 1.3520$ resistance.
Trend forecast: Bearish
Origin: Economies
