The USDCAD price keeps fluctuating – Forecast today - 04-04-2024

USDCAD Price Analysis

• The USDCAD price faced negative pressure in the previous sessions to test the sideways range’s support line at 1.3505$.
• The sideways track still dominates the intraday trades until the price manages to break the mentioned support or breach 1.3606$ resistance.
• The continuation of the decline and breaking the mentioned support will push the price to visit 38.2% Fibonacci correction level at 1.3440$ directly.
• Breaching the resistance represents the key to resume the main bullish track and achieve new gains that reach 1.3700$.

The expected trading range for today is between 1.3460$ support and 1.3600$ resistance.

Trend forecast: Sideways