USDCAD Price Analysis
Expected Scenario
The USDCAD price bounced downwards strongly yesterday, breaking below 1.3690$ and indicating potential negative pressure in upcoming sessions. However, stochastic signals positivity that might support a price recovery.
We prefer to stay aside until the price confirms its situation relative to the 1.3690$ level. Holding below it would likely push the price to test 1.3590$ as the next correctional target. Conversely, breaching and consolidating above it could lead to targets at 1.3785$ and 1.3845$.
Expected Trading Range
Between 1.3610$ support and 1.3750$ resistance.
Trend Forecast: Neutral
Origin: Economies
