The USDCAD pair provided temporary positive trades yesterday and bounced bearishly to settle around the EMA50 again, to keep the bearish trend scenario active on the intraday basis, waiting to visit the bullish channel’s support line around 1.3400.
It is important to monitor the price when reaching the targeted level due to its importance to detect the next destination, as consolidating above it will lead the price to resume the main bullish trend within the mentioned channel, while breaking it represents negative factor that will push the price to suffer more losses on the intraday basis.
The expected trading range for today is between 1.3380 support and 1.3500 resistance.
The expected trend for today: Bearish
Origin: Economies
