Today, July 17, 2024 – The USDCAD price made an attempt to breach the $1.3690 level but concluded yesterday’s session below it, reinforcing the continuation of the bearish trend outlook for the foreseeable period. The next anticipated target is at $1.3590, with a potential further decline to around $1.3435 should this level be breached, completing a negative pattern.
As such, the bearish trend remains active on an intraday basis unless there is a breakthrough above $1.3690 accompanied by a daily close above this level.
The expected trading range for today is projected between support at $1.3600 and resistance at $1.3740.
Trend Forecast: Bearish
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