The USDCAD price provided positive trades yesterday to breach 1.3985$, but it returns to decline and move below the bullish channel’s support line again, which keeps the correctional bearish scenario valid on the intraday basis, waiting to break 1.3945$ to open the way to rally towards 1.3845$ as a next correctional target.
Stochastic overlaps negatively now to reinforce the expectations to decline in the upcoming sessions, which will remain valid conditioned by the price stability below 1.3985$.
The expected trading range for today is between 1.3900$ support and 1.4020$ resistance
Trend forecast: Bearish
Origin: Economies
