The USDCAD pair retested the previously broken bullish channel’s support level and bounced lower from there, and begins to test the critical support at 1.3310, which supports the continuation of the bearish trend continuation on the intraday and short term basis, waiting for breaking the mentioned level to open the way towards 1.2985 that represents our next main target.
Stochastic current positivity might decelerate the price mission to decline, but generally, the bearish trend will be preferred unless breaching 1.3385 level and holding above it.
Expected trading range for today is between 1.3200 support and 1.3385 resistance.
Expected trend for today: Bearish