The USDCAD pair breached 1.2725 level on last Friday, but it found solid resistance formed at the broken support of the intraday bullish channel that appears on the chart, to rebound bearishly and settles below the mentioned level again, which keeps the bearish trend scenario active for the upcoming period, which targets 1.2590 initially.
Stochastic supports the expected decline, which will remain valid conditioned by the price stability below 1.2725.
The expected trading range for today is between 1.2640 support and 1.2780 resistance.
The expected trend for today: Bearish