The USDCAD pair found difficulty to resume the positive trades, to decline and approaches the recently recoded low at 1.2013, which hints heading to resume the main bearish trend, which its next target located at 1.1900.
Therefore, we suggest witnessing negative trades on the intraday and short term basis, supported by the negative pressure formed by the EMA50 besides stochastic loss to the positive momentum, noting that breaching 1.2105 is considered as initial positive key to start the correctional bullish track.
The expected trading range for today is between 1.1990 support and 1.2110 resistance.
The expected trend for today: Bearish
Origin: Economies
