The US dollar against the Canadian dollar resumed its negative trading, approaching the level of 1.3813, which represents the 50% Fibonacci retracement level for the height measured from 1.2959 to 1.4667, noting that SMA 50 constitutes continuous negative pressure against the price , To support the continuation of trading within the descending channel that appears in the image, which encourages us to suggest a break of 1.3813 and opened the way for a visit to the 1.3660 level as a next negative station.
Consequently, the bearish bias will remain expected during the upcoming sessions unless the price rushes to breach the 1.4080 level and maintains a daily closing above it.
The expected trading range for today is between 1.3770 support and 1.3950 resistance
Expected trend for today: Downside
