The USDCAD price broke 1.3653$ level clearly and closed the daily candlestick below it, to open the way to achieve more bearish correction and head to visit 50% Fibonacci correction level at 1.3562$.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the EMA50 that presses negatively on the price, noting that breaching 1.3653$ will stop the current negative pressure and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 1.3560$ support and 1.3690$ resistance.
Trend forecast: Bearish
Origin: Economies
