USDCAD achieves strong gains – Analysis - 07-12-2017
Economies.com
2017-12-07 05:09AM UTC
The USDCAD pair rallied upwards strongly after failing to confirm breaking 1.2665 level, to surpass 1.2723 level and settles above it, which hints the price head to test 1.2927 level again, which represents 50% Fibonacci correction level for the decline measured from 1.3793 to 1.2061.
Therefore, we suggest the continuation of the bullish bias in the upcoming sessions, taking into consideration that breaking 1.2723 will stop the suggested rise and push the price to resume the main bearish track again.
Expected trading range for today is between 1.2723 support and 1.2900 resistance.
Expected trend for today: Bullish
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