The USDCAD pair bounced downwards strongly to break 1.3475 level and settles below it, which opens the way to extend the bearish wave on the intraday basis to test the key support 1.3382 in the upcoming sessions.
Therefore, we expect the continuation of the bearish bias in the upcoming sessions unless the price managed to breach 1.3475 level and hold above it again, taking into consideration that breaking 1.3382 will extend the bearish wave on the short term basis.
The expected trading range for today is between 1.3380 support and 1.3500 resistance.
The expected trend for today: Bearish temporarily