The USDCAD pair succeeded to achieve our waited target at 1.2770, and begins today with clear negativity to attack this level and move below it now, reinforcing the expectations of extending the correctional bearish wave, on its way to visit 1.2695 as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, taking into consideration that holding below 1.2770 represents initial condition to continue the expected decline.
The expected trading range for today is between 1.2670 support and 1.2800 resistance.
The expected trend for today: Bearish