The USDCAD pair begins to decline after facing the solid resistance formed by the EMA50, to resume its main bearish track, and the way is open to visit 1.2985 level that represents the first main target.
Therefore, our bearish trend expectations will remain valid and active for the upcoming sessions, noting that breaking 1.2985 will extend the bearish wave to target 1.2700 followed by 1.2459 areas on the short term basis, while the suggested decline will remain valid unless breaching 1.3240 followed by 1.3310 levels and holding above it.
Expected trading range for today is between 1.2970 support and 1.3170 resistance.
Expected trend for today: Bearish