The USDCAD price provided clear positive trades yesterday to test the key resistance 1.4467$ and rebounds bearishly from there, to remain stability below the bullish channel’s support line, waiting to resume the bearish correction that its next main target located at 1.4220$.
Therefore, we expect to witness negative trades in the upcoming sessions, supported by stochastic negativity, noting that breaching 1.4467$ will stop the suggested bearish wave and lead the price to continue the main bullish trend again.
The expected trading range for today is between 1.4350$ support and 1.4470$ resistance
Trend forecast: Bearish
Origin: Economies
