The USDCAD price showed high volatility yesterday, as it attacked the bullish channel’s support line to reach 1.4260$ areas, followed by strong bullish rebound to touch 1.4467$ level again, facing contradiction between the technical indicators that makes us prefer to stay aside until we get clearer signal for the next trend, through breaching 1.4467$ resistance or breaking 1.4360$ support.
Note that breaching the mentioned resistance will lead the price to continue the main bullish trend and head to visit 1.4600$ areas on the near-term basis, while breaking the support represents the key to start bearish correction that its first target located at 1.4220$.
The expected trading range for today is between 1.4340$ support and 1.4490$ resistance
Trend forecast: Neutral
Origin: Economies
