The USDCAD price approaches the target – Forecast today - 29-04-2024

USDCAD Price Analysis

• The USDCAD price shows negative trades to settle below 1.3660$ level, falling under continuous negative pressure coming by the EMA50, while stochastic overlaps negatively now.
• Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which its next targets located at 1.3620$ followed by 1.3565$, noting that breaching 1.3760$ will push the price to resume the main bullish track again, to head towards visiting the recently recorded high at 1.3845$ as a first positive target.

The expected trading range for today is between 1.3570$ support and 1.3700$ resistance.

Trend forecast: Bearish