The USDCAD pair hovers around the EMA50, and by taking a deeper look at the chart, we find that the price forms inverted head and shoulders’ pattern, its confirmation line located at 1.3615, which means that breaching this level will provide positive motive that pushes the price to achieve positive targets that surpass 1.3680 to reach 1.3760.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that the consolidation of 1.3615 level against the price will put the price to under negative pressure to head towards testing 1.3500 level before any new attempt to rise.
The expected trading range for today is between 1.3500 support and 1.3680 resistance.
The expected trend for today: Bullish
Origin: Economies
