The USDCAD pair achieve initial break to 1.3350 level and closed the last four hours’ candlestick below it, to activate the bearish trend scenario on the intraday basis, waiting for additional negative trades in the upcoming sessions, affected by the completion of the double top pattern that its signs appear on the chart, noting that our next main target reaches 1.3205.
Therefore, the bearish trend will be expected for today, taking into consideration that failing to consolidate below 1.3350 might push the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 1.3250 support and 1.3400 resistance.
The expected trend for today: Bearish