The USDCAD price faces solid resistance – Forecast today - 26-03-2024

USDCAD Price Analysis

• The USDCAD price finds difficulty in surpassing the 1.3606$ level, indicating a slight bearish bias at present.
• Stochastic shows clear positive momentum, suggesting a potential for the price to resume the expected bullish trend in the upcoming period, with the next target at 1.3700$.
• The EMA50 provides positive support to the price, reinforcing expectations for a rise.
• If the decline continues and the price breaks below 1.3575, it may turn to decline and target 1.3505$ areas primarily.

Expected Trading Range for Today:

• Support: 1.3540$
• Resistance: 1.3660$

Trend Forecast: Bullish