The USDCAD pair declined strongly yesterday to move away from 1.3612, which reactivates the bearish trend scenario on the intraday and short term basis, as it trades at the first negative target at 1.3500, and we suggest surpassing this level to open the way to head towards 1.3362 as a next station.
Therefore, the bearish bias will be expected for the upcoming period, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave depends on the price stability below 1.3612.
The expected trading range for today is between 1.3400 support and 1.3580 resistance.
The expected trend for today: Bearish