USDCAD Price Analysis
Expected Scenarios
The USDCAD price managed to touch our first target at 1.3620$ and found solid support there, to show some bullish bias and test the EMA50 that forms good resistance that meets 1.3705$ level, accompanied by stochastic loss to the positive momentum clearly and reach the overbought areas.
Therefore, these factors encourage us to suggest the bearish rebound in the upcoming sessions to resume the bearish wave that its next target reaches 1.3565$, noting that breaching 1.3760$ will lead the price to resume the main bullish trend within the bullish channel that appears on the chart, to head towards testing 1.3845$ initially.
Trading Range for Today
Support: 1.3600$
Resistance: 1.3740$
Trend forecast: Bearish
Origin: Economies
