USDCAD Price Analysis
Expected Scenario
The USDCAD price provided additional positive trades to touch the awaited target at 1.3825$ and attempts to breach it, facing solid resistance formed by the bullish channel’s resistance line. It might show some temporary bearish bias before turning back to rise again.
The price needs to breach 1.3835$ to confirm extending the bullish wave towards 1.3900$, which receives continuous support from the EMA50. Holding above 1.3760$ is important to continue the expected rise. Breaking it will push the price to achieve some bearish correction, possibly heading towards 1.3705$ followed by 1.3660$ initially before any new positive attempt.
Expected Trading Range
Between 1.3750$ support and 1.3890$ resistance.
Trend Forecast: Bullish
Origin: Economies
