The USDCAD pair couldn’t manage to hold for long time above 1.3500 level, to face negative pressure and retest the breached neckline of the double bottom pattern that appears on the chart, waiting to resume the positive trades to surpass the mentioned level and open the way to head towards 1.3585 as a next positive target.
Stochastic gathers the positive momentum clearly to support the expectations to rise in the upcoming sessions, taking into consideration that breaking 1.3460 will put the price under additional negative pressure to head towards 1.3350 areas on the near term basis.
The expected trading range for today is between 1.3420 support and 1.3550 resistance.
The expected trend for today: Bullish
Origin: Economies
