USDCAD Price Analysis
Expected Scenario
The USDCAD price returned to decline to break 1.3760$ and settle below it, completing the formation of a head and shoulders’ pattern.
We expect this pattern to push the price to achieve bearish correction targeting 1.3660$ followed by 1.3620$ in the upcoming sessions.
The bearish bias will be expected for today, with breaking 1.3705$ easing the mission of achieving the suggested targets.
However, breaching 1.3760$ represents a positive factor that will stop the current correctional pressure and lead the price to resume the main bullish track again.
Expected Trading Range
Between 1.3640$ support and 1.3780$ resistance.
Trend Forecast: Bearish
Origin: Economies
