The USDCAD pair traded with clear negativity yesterday to move below 50% Fibonacci correction level, noticing that stochastic managed to get rid of its negative momentum to show clear oversold signals now, which supports the chances of resuming the bullish bias in the upcoming sessions, reinforced by the EMA50 that provides the positive support to the price.
Therefore, the bullish trend scenario will remain valid on the intraday basis, waiting to breach 1.3180 to confirm visiting 1.3233 as a next target, reminding you that it is important to hold above 1.3092 to continue the expected rise.
The expected trading range for today is between 1.3070 support and 1.3200 resistance.
The expected trend for today: Bullish