USDCAD Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
USDCAD price traded with clear positivity by the end of yesterday’s trading, breaching 1.3705$ and hinting at heading to resume the bullish trend within the bullish channel
The cancellation of the negative effect of the double top pattern suggests a move towards achieving expected gains on the intraday basis, targeting visiting the recently recorded high at 1.3845$ initially
Bullish bias is suggested for today
Breaching 1.3760$ is required to ease the mission of achieving the expected rise
Breaking 1.3705$ will put the price under negative pressure again, heading towards visiting 1.3620$ areas before any new positive attempt
The USDCAD price traded with clear positivity by the end of yesterday’s trading, breaching 1.3705$ and hinting at heading to resume the bullish trend within the bullish channel. The cancellation of the negative effect of the double top pattern suggests a move towards achieving expected gains on the intraday basis, targeting visiting the recently recorded high at 1.3845$ initially. Therefore, bullish bias is suggested for today. Breaching 1.3760$ is required to ease the mission of achieving the expected rise. Breaking 1.3705$ will put the price under negative pressure again, heading towards visiting 1.3620$ areas before any new positive attempt.
Expected Trading Range
Support: 1.3700$
Resistance: 1.3825$
Trend Forecast: Bullish
Origin: Economies
