Overview
The USD/CAD pair trades steadily below the key resistance of 1.3264 as shown in the image. Thus, we believe that the chances are valid to rebound bearishly after the return of the markets to trade and resume the bearish trend on the short-term basis, waiting to hit the 1.2825 level as a next main station. It is important to note that breaching 1.3264 followed by 1.3345 levels will stop the suggested negative scenario and lead the price to attempt to regain the main bullish trend.
The expected trading range for today is between 1.3150 support and 1.3300 resistance.
The material has been provided by InstaForex Company - www.instaforex.com