The USDCAD pair rallied upwards strongly yesterday to breach 1.3600 level and approach 1.3700 barrier, but we notice that the price begins today with clear decline to press on 1.3600 level now, motivated by stochastic negativity, to suggest the continuation of the bearish bias and break this level to resume the correctional bearish wave, which its next main target located at 1.3410.
Therefore, the bearish trend will be expected for today, supported by the EMA50 that presses negatively on the price, noting that failing to consolidate below 1.3610 will stop the negative scenario and lead the price to recover again.
The expected trading range for today is between 1.3480 support and 1.3650 resistance.
The expected trend for today: Bearish
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