The USDCAD pair traded with strong positivity yesterday to test 1.2590 level, settling there now, accompanied by stochastic loss to the positive momentum and reaching the overbought areas, waiting to motivate the price to resume the correctional bearish trend, which targets testing 1.2480 level again.
The EMA50 attempts to protect the suggested negative scenario, which will remain valid unless breaching 1.2590 and holding above it.
The expected trading range for today is between 1.2500 support and 1.2640 resistance.
The expected trend for today: Bearish