The USDCAD price managed to achieve our first waited positive target at 1.3900$ and bounced downwards strongly to break the bullish channel’s support line and settles below it, to start new bearish correction that targets testing 1.3765$ initially, noting that breaking this level will push the price towards 1.3650$ as a next negative station.
Therefore, the bearish bias will be suggested for today, noting that breaching 1.3865$ will stop the expected decline and lead the price to regain the main bullish trend again.
The expected trading range for today is between 1.3740$ support and 1.3870$ resistance.
Trend forecast: Bearish
Origin: Economies
