The USDCAD price managed to break the bearish flag’s support line to activate the negative effect of this pattern and get negative motive that supports the expectations to decline in the upcoming sessions, waiting to test 1.3471$ initially, reminding you that breaking this level will push the price towards 1.3360$ as a next negative station.
The continuation of the bearish wave depends on the price stability below 1.3512$ and the most important below 1.3562$, as breaching the last level will stop the negative scenario and lead the price to attempt to build bullish wave that its first target located at 1.3653$.
The expected trading range for today is between 1.3410$ support and 1.3550$ resistance.
Trend forecast: Bearish
Origin: Economies
