The USDCAD price continued to decline to break the bullish channel’s support line and start bearish correction for the rise that started from 1.3420$ areas, as it trades near 23.6% Fibonacci level at 1.4000$, noting that breaking this level will push the price towards 1.3890$ as a next correctional station.
Therefore, the bearish bias will be expected for today, noting that breaching 1.4045$ will push the price back to the bullish track to resume the main bullish trend again.
The expected trading range for today is between 1.3950$ support and 1.4080$ resistance
Trend forecast: Bearish
Origin: Economies
