The USDCAD pair approached our waited target at 1.3155 and bounced bullishly to test 1.3240 level, accompanied by stochastic reach to the overbought areas and the beginning of witnessing negative overlapping signals on the four hours’ time frame, which supports the chances of resuming the expected bearish trend on the intraday and short term basis, which its targets extend to 1.3015 after surpassing the first target.
Therefore, we will keep our bearish overview unless breaching 1.3295 level and holding above it.
The expected trading range for today is between 1.3130 support and 1.3295 resistance.
The expected trend for today: Bearish