The USDCAD price traded with clear negativity yesterday to reach the bullish channel’s support line that appears on the chart, accompanied by stochastic getting rid of its negative momentum and reach the oversold areas, while the EMA50 meets this mentioned channel’s support line to add more strength to it.
Therefore, we believe that the chances valid to rebound bullishly and resume the bullish trend within the mentioned channel, waiting to visit 1.4140$ followed by 1.4245$ levels as next main targets, taking into consideration that breaking 1.4035$ will push the price out of the bullish track to start bearish correction on the intraday basis.
The expected trading range for today is between 1.4000$ support and 1.4140$ resistance
Trend forecast: Bullish
Origin: Economies
