The USDCAD pair provided clear positive trading yesterday to breach the initial resistance at 1.2723 and settles above it, accompanied with the issuance of clear overbought signals from stochastic, waiting for motivating the price to bounce lower to resume the main bearish trend, where the chances remain available for the decline unless breaching 1.2820 level and holding above it.
Our initial target is represented by breaking 1.2665 level to get strong negative motive that supports the expectations for heading to our next main target at 1.2470.
Expected trading range for today is between 1.2665 support and 1.2820 resistance.
Expected trend for today: Bearish