The USDCAD price settled bearishly in its last trading on the intraday levels, leaning of the critical support at 1.3780, with continuous negative pressure due to its trading below EMA50, besides the emergence of the negative signals on the (RSI), despite reaching oversold areas, therefore, the price moves within a minor bearish channel’s range on the short-term basis.
Therefore, our expectations prefer the decline in the USDCAD price in its upcoming intraday trading, conditioned by breaking the key support level at 1.3780, followed by targeting the next support level at 1.3700.
The expected trading range is between 1.3780 support and 1.3890 resistance.
Today’s forecast: Bearish
Origin: Economies
