USDCAD heads to retest – Analysis - 22-02-2017

The USDCAD pair show slight bearish bias to approach from retesting the previously breached resistance for the minor bearish channel, which turns into support now at 1.3065, affected by stochastic negativity, as long as the price above the mentioned level, so the positive scenario will remain valid on the intraday basis, waiting for testing 1.3310 level before the attempt to decline again.

You should be aware that breaking 1.3065 will turn the price to the main bearish track and stops the suggested positive possibility, and the negative targets begin at 1.2985 and extend to 1.2700.

Expected trading range for today is between 1.3000 support and 1.3250 resistance.

Expected trend for today: Bullish