The USDCAD price achieved initial test to 1.3590$ and found solid support there, noticing that stochastic lost its positive momentum clearly to reach the overbought areas, while the EMA50 forms continuous negative pressure against the price.
Therefore, we expect to witness negative trades in the upcoming sessions, and the price needs to break the above mentioned support to open the way to visit 1.3515$ followed by 1.3435$ levels as next negative targets, reminding you that the continuation of the bearish wave requires holding below 1.3690$.
The expected trading range for today is between 1.3550$ support and 1.3680$ resistance.
Trend forecast: Bearish
Origin: Economies
