The USDCAD pair bounced upwards clearly yesterday to test the bearish channel’s resistance that appears on the chart, and the price needs to consolidate below 1.2130 as a first condition to continue the main bearish trend, which its next target located at 1.2000.
Therefore, the bearish trend will remain suggested for the upcoming period unless breaching 1.2130 followed by 1.2185 levels and holding above them.
The expected trading range for today is between 1.2050 support and 1.2185 resistance.
The expected trend for today: Bearish