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The USDCAD price exits the bullish channel – Forecast today - 22-01-2025
The USDCAD price faced new negative pressure yesterday to break the bullish channel’s support line and settle below it, to activate the negative scenario on the intraday basis and head towards achieving bearish correction that its first target located at 1.4220$.
Therefore, the bearish bias will be expected for today, taking into consideration that breaching 1.4385$ will stop the bearish wave and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1.4260$ support and 1.4390$ resistance
Trend forecast: Bearish
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