The USDCAD pair provided negative trades yesterday to approach our extended target at 1.2605, and we expect the continuation of the negative pressure in the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 1.2500 followed by 1.2460 levels as next negative stations.
Therefore, the bearish trend scenario will remain valid on the intraday and short term basis unless the price managed to breach 1.2695 and hold above it.
The expected trading range for today is between 1.2570 support and 1.2700 resistance.
The expected trend for today: Bearish