Price Analysis: USDCAD
Expected Scenario
The USDCAD price shows sideways trades since yesterday, settling below the EMA50 that forms negative pressure against the price, waiting to resume the negative trades and break 1.3590$ to open the way to achieve more bearish correction that its next targets reach 1.3510$ followed by 1.3435$.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 1.3690$ will stop the expected decline and lead the price to return to the main bullish track again.
Expected Trading Range
Between 1.3550$ support and 1.3690$ resistance.
Trend Forecast: Bearish
Origin: Economies
