The USDCAD pair bounced bearishly after testing the minor bearish channel’s resistance that appears on the chart, attempting to return to the main bearish channel, which supports the continuation of our main bearish trend, reinforced by the negative pressure formed by the EMA50, reminding you that our next target is located at 1.2960.
Breaking the targeted level will extend the bearish wave on the medium term and long term basis, while holding below 1.3130 represents key condition to continue the expected decline.
The expected trading range for today is between 1.3000 support and 1.3130 resistance.
The expected trend for today: Bearish
Origin: Economies
