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USDCAD Price Reactivates the Negative Scenario – Forecast for Today, July 4, 2024

by Jennifer

USDCAD Price Analysis

Expected Scenario

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The USDCAD price concluded yesterday with significant negativity, breaking below the $1.3690 mark and falling under corrective bearish pressure once more. It is now aiming towards negative targets starting at $1.3590 and potentially extending to $1.3515 upon further breakdown.

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Therefore, a bearish trend is expected for today’s trading session. It is important to monitor whether the price can breach the $1.3690 resistance level, as this could signal a potential shift towards establishing a new bullish wave on an intraday basis.

Expected Trading Range

Support: $1.3560

Resistance: $1.3690

Trend Forecast: Bearish

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