USDCAD breaks the support – Analysis - 03-07-2017

Economies.com
2017-07-03 03:32AM UTC

The USDCAD pair managed to break 1.2985 level and closed the daily candlestick below it, which supports the continuation of our bearish overview efficiently in the upcoming period, paving the way to head towards the previously recorded low at 1.2459 on the near term basis.

 

Therefore, the bearish bias will remain dominant in the upcoming sessions, noting that breaching 1.2985 and holding above it might push the price to start some intraday bullish correction before turning back to decline again.

 

Expected trading range for today is between 1.2850 support and 1.3050 resistance.

 

Expected trend for today: Bearish

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