The USDCAD pair traded negatively yesterday to break the intraday bullish channel’s support line and begins testing the EMA50 that forms key support base at 1.3130, and the price needs to hold above this support to keep the positive scenario active for the upcoming period, as breaking it will press on the price to test 1.3050 before any new attempt to rise.
Stochastic reaches the oversold areas now to support the chances of resuming the bullish bias in the upcoming sessions, to keep our bullish overview that targets visiting 1.3286 level as a next main station.
The expected trading range for today is between 1.3060 support and 1.3230 resistance.
The expected trend for today: Bullish