The USDCAD price faces negative pressure by today’s open to test the minor support base 1.4345$, noticing that stochastic got rid of its negative momentum to reach the oversold areas, waiting to motivate the price to resume the main bullish trend within the bullish channel that appears on the chart, noting that the first target is located at 1.4467$.
The continuation of the bullish trend depends on the price stability above 1.4305$, as breaking it will push the price to exit the bullish track to start bearish correction for the rise that started from 1.3419$ areas.
The expected trading range for today is between 1.4320$ support and 1.4450$ resistance
Trend forecast: Overall bullish
Origin: Economies
