USDCAD Price Analysis
Expected Scenario
The USDCAD price is testing the broken support of the bullish channel again, and the EMA50 meets this level to add more strength to it, as it turns into resistance line now at 1.3645$, accompanied by stochastic loss to the positive momentum clearly.
Therefore, these factors support the chances of resuming the correctional bearish wave, which its targets begin by breaking 1.3590$ to open the way to head towards 1.3512$ followed by 1.3433$, noting that breaching 1.3645$ followed by 1.3690$ levels will push the price to return to the main bullish trend again, to head towards visiting the recently recorded top at 1.3845$ as a first main target.
Expected Trading Range
Between 1.3660$ support and 1.3700$ resistance.
Trend Forecast: Bearish
Origin: Economies
