The USDCAD pair managed to get a daily close below 1.2923 level, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, paving the way to head towards our negative targets that begin at 1.2800 and extend to 1.2717.
Therefore, we are waiting for more decline today, noting that breaching 1.2923 will stop the bearish bias and push the price to start recovery attempts on the intraday basis.
Expected trading range for today is between 1.2830 support and 1.2980 resistance.
Expected trend for today: Bearish