The USDCAD pair provided negative trading yesterday after finding solid resistance around 1.2530, to start testing the key support base 1.2470, which forms the first protection factor to the correctional bullish trend scenario, noticing that stochastic and the EMA50 provide positive factors now.
Therefore, we will keep our bullish overview on the intraday and short term basis unless breaking 1.2400 and holding below it, noting that breaching 1.2530 will ease the mission of heading towards our next target at 1.2723.
Expected trading range for today is between 1.2400 support and 1.2570 resistance.
Expected trend for today: Bullish