USDCAD awaits the break – Analysis - 06-02-2017
Economies.com
2017-02-06 04:44AM UTC
The USDCAD pair settles near the key support 1.2985, and as we mentioned in our previous reports, the price needs to break this level to confirm the continuation of the bearish wave on the short term basis, noticing that the EMA50 keeps pushing negatively on the price to support the chances of achieving the required break.
Therefore, we will keep our bearish overview for the upcoming period, reminding you that breaking 1.2985 will push the price to visit 1.2700 level direct, while the expected decline will remain valid unless breaching 1.3070 level and holding above it.
Expected trading range for today is between 1.2900 support and 1.3070 resistance.
Expected trend for today: Bearish
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