The USDCAD price shows additional positive trades by today’s open to breach 1.3562 and attempt to hold above it, and by taking a deeper look at the chart, we find that the price completes forming double bottom pattern that we expect to push the price to achieve additional gains on the intraday basis, and the next target is located at 1.3653$.
Therefore, the bullish trend will be expected in the upcoming sessions, motivated by the positive overlapping signal provided by stochastic now, taking into consideration that failing to consolidate above 1.3562$ will stop the expected rise and push the price to decline again.
The expected trading range for today is between 1.3500$ support and 1.3635$ resistance.
Trend forecast: Bullish
Origin: Economies
