The USDCAD price faced new negative pressure to break the bullish channel’s support line and settle below it, starting today with additional negativity to confirm the domination of the bearish trend on the intraday basis, targeting visiting 1.4220$ areas as a next main station.
Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 1.4400$ followed by 1.4467$ levels will stop the bearish correction and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1.4260$ support and 1.4390$ resistance
Trend forecast: Bearish
Origin: Economies
