The USD/CAD currency pair has recently displayed a bearish trend, testing the critical support level at 1.3500. Currently, the price has managed to consolidate above this level. This suggests that there is a valid opportunity for the continuation of the expected bullish trend on an intraday basis, with initial targets set at 1.3615, followed by 1.3680.
However, it’s essential to be cautious as a break below 1.3500 could indicate the formation of a negative pattern, potentially leading to negative targets in the range of 1.3370 to 1.3350.
For today’s trading outlook, the expected range encompasses support at 1.3460 and resistance at 1.3580.
The prevailing trend for today is expected to be bullish.