USDCAD Price Analysis
Expected Scenario
The USDCAD price achieved more decline on last Friday to reach the thresholds of the waited target at 1.3590$, noticing that the price shows some temporary bullish bias, so stochastic loses its positive momentum and reaches the overbought areas, waiting to motivate the price to resume the correctional bearish trend, which its next target reaches 1.3515$.
Therefore, we will continue to suggest the bearish trend for the upcoming period, affected by the formation of the double top pattern that its signs appear on the chart, noting that holding below 1.3690$ represents major condition to achieve the waited targets.
Expected Trading Range
Between 1.3560$ support and 1.3700$ resistance.
Trend Forecast: Bearish
Origin: Economies
