USDCAD Price Analysis
Expected Scenario
The USDCAD price continues to decline to approach 1.3590$ level, and by taking a deeper look at the chart, we find that this level represents the neckline of double top pattern that has negative targets that surpass 1.3515$ to reach 1.3435$ followed by 1.3335$ areas.
Therefore, we expect to witness more decline on the intraday and short-term basis, and the price needs to break 1.3590$ to get the required negative motive to rally towards the suggested targets, reminding you that the continuation of the bearish trend requires holding below 1.3690$.
Expected Trading Range
Between 1.3540$ support and 1.3670$ resistance.
Trend Forecast: Bearish
Origin: Economies
