The USDCAD pair managed to touch the bullish channel’s support line that appears on the chart and bounced bullishly to hint heading to resume the bullish wave within the mentioned channel, but we notice that stochastic loses its positive momentum and might force the price to decline again.
Therefore, we prefer to stay aside until we get clearer signal for the next trend, which we will get through breaking 1.3415 support or breaching 1.3500 resistance, noting that breaking this support will push the price to achieve additional decline that its next target reaches 1.3350, while breaching the resistance represents the key to resume the main bullish trend and head to achieve gains that start at 1.3600 and extend to 1.3680.
The expected trading range for today is between 1.3390 support and 1.3530 resistance.
The expected trend for today: Neutral
Origin: Economies
