The USDCAD pair bounced downwards suddenly to break 1.3500 level and close the daily candlestick below it, to turn to decline and resume trading inside the bearish channel that appears on the chart, waiting to visit 1.3420 followed by 1.3350 levels as next main stations.
Therefore, we expect to witness more bearish bias in the upcoming sessions, taking into consideration that breaching 1.3500 – 1.3510 levels will stop the negative scenario and lead the price to attempt to build bullish wave on the intraday basis.
The expected trading range for today is between 1.3400 support and 1.3530 resistance.
The expected trend for today: Bearish
Origin: Economies
