The USDCAD price managed to achieve our waited target at 1.3960$, noticing that the price broken the bullish channel’s support line and closed the daily candlestick below it, to open the way to achieve bearish correction for the rise that started from 1.3420$ areas, noting that breaking 1.3945$ will confirm heading towards 1.3845$ as a next negative station.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 1.3985$ will stop the correctional scenario and push the price to return to the main bullish track again.
The expected trading range for today is between 1.3890$ support and 1.4000$ resistance
Trend forecast: Bearish
Origin: Economies
