USDCAD Price Analysis
Expected Scenario
The USDCAD price declined clearly on last Friday affected by the positive data from the Canadian economy, to break 1.3690$ and settle below it, to hint heading to return to the correctional bearish track again, but we notice that stochastic provides positive signals that might assist to push the price to recover again.
Therefore, we prefer to stay aside until the price confirms its situation according to 1.3690$ level, noting that consolidating below it will push the price to visit 1.3590$ as a next negative target, while breaching it and holding above it represents the key to resume the bullish wave that targets 1.3775$ followed by 1.3845$ levels as main positive stations.
Expected Trading Range
Between 1.3600$ support and 1.3750$ resistance.
Trend Forecast: Neutral
Origin: Economies
