The USDCAD pair tested 1.2923 level and kept its stability below it, which makes us keep our bearish overview on the intraday and short term basis, reminding you that our first target is represented by testing 1.2717 level, which breaking it represents the key to extend the bearish wave towards 1.2463.
Note that breaching 1.2923 will stop the expected bearish wave and lead the price to extend its bearish correction towards 1.3128.
Expected trading range for today is between 1.2800 support and 1.2950 resistance.
Expected trend for today: Bearish