The USDCAD pair approached our first waited target at 1.2500 and settles within sideways track now, noticing that the EMA50 continues to push negatively on the price, while stochastic provides negative signals on the four hours’ time frame.
Therefore, these factors encourage us to continue suggesting the bearish trend that its main target located at 1.2463, while holding below 1.2717 represents key condition to achieve the waited targets.
Expected trading range for today is between 1.2463 support and 1.2650 resistance.
Expected trend for today: Bearish