Expected Scenario: Bearish Trend
The USDCAD price traded with clear negativity, nearing the $1.3505 level.
This suggests a potential return to the correctional bearish track.
Breaking the $1.3505 level will confirm the continuation of the bearish trend towards $1.3440 as the next negative station.
Therefore, the bearish bias is expected for today, supported by moving below the EMA50.
Note that breaching $1.3606 will invalidate the expected decline and may lead to a resumption of the main bullish trend.
Expected Trading Range for Today
Support: $1.3460
Resistance: $1.3600
Trend Forecast: Bearish
Origin: Economies
