The USDCAD pairing encountered a recent phase of decline, as evidenced by its gradual descent to approximate the 1.3350 threshold in the preceding trading session. This bearish movement, however, was followed by a discernible upward bounce, effectively marking the resumption of the anticipated bullish trajectory within the intraday scope. Akin to the sequential nature of this trajectory, the ensuing targets are initiated with a retest of the 1.3500 level. It is imperative to underscore that surpassing this threshold would impart considerable impetus to the price, potentially propelling it towards subsequent objectives positioned at 1.3595 and 1.3680.
Consequently, the enduring outlook remains inclined towards the bullish trend for the forthcoming period. This prognosis is underpinned by the supportive influence exerted by the EMA50, a factor that has played a pivotal role in elevating the price from lower positions. Maintaining a position above 1.3350 assumes a pivotal role in preserving the envisaged upward trajectory.
Navigating the contours of the trading day, the projected trading range is bounded by the support foundation at 1.3370 and the resistance frontier at 1.3520. Within this operational sphere, the trend for the day remains securely aligned with the bullish orientation, a sentiment congruent with the prevailing market conditions.