The USDCAD currency pair remains engaged in an upward trajectory, as it endeavors to breach the crucial 1.3600 level. However, the pair’s progress is somewhat impacted by the presence of stochastic negativity, which introduces a degree of bearish bias. This condition prompts a wait for a positive catalyst that can propel the price to resume the ongoing bullish wave, targeting the next level at 1.3680.
The ongoing bullish wave remains within the confines of a well-defined bullish channel, and its validity is contingent on the price’s ability to sustain itself above the 1.3500 level.
Anticipated trading activity for today is expected to fluctuate between the support level at 1.3530 and the resistance at 1.3670.
To sum up, the current trend for the day continues to lean towards the bullish side, albeit slightly tempered by stochastic negativity.