The USDCAD pair shows new positive trades to approach the EMA50, noticing that stochastic loses its positive momentum clearly to reach the overbought areas, waiting to motivate the price to rebound bearishly to resume the expected bearish trend on the intraday and short term basis, which targets 1.3210 followed by 1.3128 levels as next main stations.
Holding below 1.3382 is important to continue the expected decline, as breaching it will push the price to return to the previously broken bullish channel and achieve positive targets that begin at 1.3500.
The expected trading range for today is between 1.3260 support and 1.3400 resistance.
The expected trend for today: Bearish