USDCAD Price Analysis
The USDCAD price shows a bearish bias, testing the minor support at 1.3660$.
Continued decline is expected to reach negative targets at 1.3620$ and 1.3565$.
Chart analysis indicates the formation of a double top pattern, suggesting a potential break of the bullish channel’s support line and further decline in the longer term.
However, breaching 1.3760$ would invalidate the bearish scenario and signal a potential attempt to regain the main bullish trend.
The expected trading range for today is between 1.3580$ support and 1.3720$ resistance.
Trend forecast: Bearish
Origin: Economies
