The USDCAD pair continues to fluctuate within sideways range as appears on the chart, noticing that stochastic loses the bullish momentum to move inside the overbought areas, while the EMA50 forms continuous negative pressure against the price.
Therefore, we believe that the chances are valid to resume the bearish trend on the intraday and short term basis, reminding you that the next main target is located at 1.2463, which its continuation conditions holding below 1.2717.
Expected trading range for today is between 1.2500 support and 1.2670 resistance.
Expected trend for today: Bearish