USDCAD Price Analysis
Expected Scenario
The USDCAD price faces new negative pressure, breaking the bullish channel’s support line and heading towards a potential test of the crucial short-term support at 1.3690$.
Stochastic currently shows positive signals, which could motivate the price to rise again.
Therefore, the bullish trend scenario remains valid for the upcoming period, targeting 1.3845$ as the next station. It’s important to note that breaking 1.3690$ will push the price downwards towards the next correctional level at 1.3590$.
Expected Trading Range for Today
Between the support 1.3660$ and the resistance 1.3790$.
Trend Forecast: Bullish
Origin: Economies
