The USDCAD price begins bearish correction – Forecast today - 18-04-2024
Economies.com
2024-04-18 04:02AM UTC
Price Analysis: USDCAD
Expected Scenario
- The USDCAD price bounced bearishly after failing to surpass the bullish channel’s resistance line, initiating a bearish correction on the intraday basis. The expectation is to target the bullish channel’s support line primarily, which reaches areas around 1.3565$.
- Therefore, a bearish bias is expected for today, with the note that breaching 1.3845$ will halt the expected decline and lead the price to continue the main bullish trend again.
Expected Outcome
The expected trading range for today is between 1.3670$ support and 1.3815$ resistance.
Trend Forecast: Bearish
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