The USDCAD price broke 1.3471$ level clearly and closed the daily candlestick below it, to support the continuation of the expected bearish trend for the upcoming period, opening the way to head towards our negative target that reaches 1.3360$.
Therefore, we are waiting for more decline on the intraday and short-term basis, noting that breaching 1.3471$ might push the price to start recovery attempts and build bullish wave that targets testing 1.3562$ areas initially.
The expected trading range for today is between 1.3370$ support and 1.3500$ resistance.
Trend forecast: Bearish
Origin: Economies
